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Triple Investment Opportunity

Mt Maunganui, 1,2,3/10 Ulster Street

Price by Negotiation

  • 7
  • 4
  • 5
  • 3
  • 3
  • 2
  • 2
Listing Number: MM4983
About this listing
Our vendor is highly motivated to sell this prime piece of 875 sqm central Mount real estate - three units on three separate cross lease titles being sold as one entity! Built in the 1960's with great bones, this property is perfect for investors looking for a solid and immediate income stream, large or extended families, three families consolidating to reduce mortgage commitments or astute buyers who are looking for a home for themselves with an income on the side.

Set at the front of the site is unit one boasting sea views and sunny living, three bedrooms, two bathrooms two toilets, single garaging and off-street parking. Nestled in the middle is unit two, private and cozy with two bedrooms, one bathroom and a sunny deck to enjoy. Away from the hustle and bustle at the rear is flat unit with two bedrooms, one bathroom, single garaging, off-street parking and a yard for the pets and kids to play.

As far as investment in location goes, you can't get any better - just one street away from the ocean and within a short walk to schools, shops and parks - making this a desirable place to invest, live or reside! Currently all three are rented out with excellent returns of $1,170 per week. Our vendor has resource consent approved for the property to be subdivided into three freehold titles. This is seriously a good opportunity for the clever investor - don't hesitate, call Team Theo to discuss the excellent rental return potential, extended family options or development potential of this property!


To view further information on this property, please visit: http://www.propertyfiles.co.nz/property/MM4983


Property Information
  • Tenure: Crosslease (fee simple)
  • Tenure Detail: Secondly an estate in Leasehold in Flat 1 and Garage 1 DPS 10937. 2/10 Ulster - 1/3 share 875 sqm, Lot 53 DP 36003, CT SA14D/214. Secondly an estate in Leasehold in Flat 2 DPS 10937. 3/10 Ulster - 1/3 share 875 sqm, Lot 53 DP 36003, CT 6C/1177. Secondly an estate in Leasehold in Flat 3 and Garage 2 DPS 10937.
  • Property condition: Good
  • Property Type: Block of units
  • House style: Lifestyle, Other style: 1960's, Other (Web Ref MM4983)
  • Garaging / carparking: Double lock-up
  • Construction: Block, Brick and Fibre Cement, Shadoline
  • Joinery: Timber, Aluminium
  • Roof: Longrun
  • Flooring: Timber, Carpet and Vinyl
  • Window coverings: Drapes
  • Electrical: TV points, TV aerial
  • Property Features: Other (RV - 1/10 - $780,000. 2/10 - $635,000. 3/10 - $755,000.)
  • Chattels remaining: 1/10 Ulster - Stove, Fixed Floor Coverings, Light Fittings, Drapes. 2/10 Ulster - Stove, Fixed Floor Coverings, Light Fittings, Drapes. 3/10 Ulster - Stove, Fixed Floor Coverings, Light Fittings, Drapes.
  • Kitchen: Finished in Stainless steel, Laminate and Other (Tiled)
  • Living area: Open plan
  • Views: Urban, Water
  • Aspect: North, West
  • Outdoor living: Entertainment area (Uncovered and Paved)
  • Fencing: Partial
  • Land contour: Flat to sloping
  • Grounds: Backyard access, Tidy
  • Water heating: Electric
  • Water supply: Town supply
  • Sewerage: Mains
  • Locality: Close to shops, Close to schools, Close to transport

Contact Details

Property Location

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