13 Karaka Street, Eden Terrace, Auckland

Prime Double Investment Opportunity

Discover an exceptional investment opportunity on the fringe of the city at 11 and 13 Karaka Street. This dual-site property is a must-see for savvy investors looking to capitalize on its prime location and potential for high returns.

Key Highlights:
•Holding Income: Currently generating approximately $180,000 per annum from a boarding house on site.
•Development Potential: Concept plans available for 60 apartments with 27 car parks, benefiting from the extended height limit of 32.5 meters in the Mixed Use zone.
•Strategic Location: Nestled in the heart of Eden Terrace, this property offers easy access to the CBD, Ponsonby, and Grafton. Enjoy a vibrant local scene with nearby cafés, restaurants, and essential amenities.

Property Features:
•Two Freehold Titles: Total land area of 552sqm.
•Mixed Use Zoning: Offers flexibility for commercial or residential development.
•Cost Savings: Below-road contour provides savings on excavation costs.
•Future Growth: High demand for accommodation and commercial spaces in the area.

Take advantage of this unique opportunity to enhance your investment portfolio. Whether you choose to renovate for increased returns or develop a new mixed-use project, the numbers are in your favor.

Contact Jock Kooger at 021 321 856 for more information.