For Sale by deadline private treaty closing 4:00pm, Wednesday 16 June 2021 (unless sold prior) Level 3, 50 Kitchener Street, Auckland Central.
Strategically located at the corner of Mount Smart Road and Felix Street, the properties comprises of three freestanding buildings totalling 1,315m² of Freehold land.
Building 1: The Hutchinson Arcade is a block of six retail shops, with long-term established tenants, including a bakery, a superette, a liquor store, a takeaway shop and a barber shop.
Building 2: Also known as 53 Felix Street, is a freestanding three bedroom residential house, with tenants in place.
Building 3: Also known as 53c-e Felix Street, is a workshop/office space.
Current combined holding income of approximately $175,149 net + GST per annum (with some vacancy), with the potential income to be approximately $218,000 net + GST per annum if fully leased.
KEY FEATURES
- Large Freehold land of $1,315m² in an upcoming area
- Combined net rentable area of approximately 737m²
- Split income streams from commercial and residential tenancies
- Long-term established tenancy in place
- Huge rental upside with owner-occupier options available
- Current holding income of approximately $176,149 net + GST per annum
- High yield investments like this are hard to find
- Motivated vendors - this one will sell
