38 May Street, Mount Maunganui, Tauranga, Bay of Plenty

38 May Street, Mount Maunganui, Tauranga, Bay of Plenty Best Earth on Show

This centrally located property in Mount Maunganui is not just an ideal family retreat but a goldmine for developers and investors. Situated on approximately 756m2 in a high-density zoning area, it offers immense development potential. Dive into our development draft proposal or connect with the local council to explore the possibilities.

A stone's throw from Mount Main Street, the property sits amid boutique shops, fine dining, and the unique Mount lifestyle. Adventure and leisure are at your doorstep, with both Mount Maunganui Beach and Pilot Bay just a ten-minute walk away.

The character cottage on the property, currently a lucrative AirBnB, generates a substantial return of 60k/yr. It houses three sizeable bedrooms, a newly renovated bathroom with a waterfall showerhead, a separate toilet, and an additional sleepout room - perfect for larger families or extra guests.

The second dwelling features 2 x 2-bedroom flats, each with an open-plan kitchen-lounge and sizeable decks for soaking up the afternoon sun. These flats are currently rented individually, each to long-term tenants and include four car parks, bringing the total to over eight parking spaces on the property.

Although last renovated in 2008 and showing signs of wear, these dwellings remain comfortably livable. This property is an excellent opportunity for those seeking multiple income streams or developers eyeing their next big project in a prime location.

All of these properties can collectively bring in $100,000* annually. The rental breakdown is available on request.

To truly appreciate the potential of this unique property, contact Patrick or John to arrange a viewing and receive an information pack, or visit us during one of our open homes.

Embrace the chance to be part of the vibrant Mount Maunganui community and explore the limitless possibilities this property has to offer.