• 10 units (5x1 bedroom / 5x2 Bedroom)
• Gross Income circa $255,000 per year
• 1,679m2 land
• Sea views
Located just a stones throw from the Napier CBD, this iconic Napier building houses 10 units under one roof.
With its prime position facing the pacific ocean on Napier's iconic Marine Parade, the units are well sought after from tenants with its superb location. The 705m2 accommodation premises at 29 Marine Parade is configured into five two-bedroom residences and five one-bedroom flats. The building sits on 1,679 m2 of land and has a new building standards rating of 38 percent.
There are a number of opportunities with this property, you could develop into a boutique hotel or Airbnb. Alternatively, the dwellings could be modernised - increasing their rental capacity. Or just sit back and enjoy the great returns.
Proposed rates for 2024/2025 $24,040.69 (NCC & HBRC)
For further information, please contact the listing agent Shannon Caldwell.