2 Mahoe Street, Melville, Hamilton

Nestled at 2 Mahoe Street, Melville, Hamilton, this Freehold property boasts a unique history as the home of St Stephens Presbyterian Church. Constructed with wooden walls and an iron roof, this 580m2 building sits on a generous 2114m2 land area, complete with a single carpark. The property, in a Mixed condition, presents a CV of $2,340,000 as of September 2021, showcasing an impressive 81.40% increase from its 2018 valuation of $1,290,000. The HouGarden AVM estimates the property's value at $2,175,000, making it an attractive opportunity for investors. With a prime location, just a 5-minute walk from one of the North Island's biggest hospitals, this property holds potential for church congregations, community groups, or developers.

On the valuation front, the property has seen a significant jump in its Capital Value over the years, reflecting a robust real estate market in the area. The recent Seismic Assessment report adds further confidence to the investment potential of this iconic property.

For families, the property falls within the Hamilton West School zone, a Full Primary with a decile rating of 5, and Deanwell School, a Contributing school with a rating of 3. It's a combination of prime location, rich history, and investment potential that makes this property a land banking opportunity not to be missed.

Updated on May 24, 2024