5 Park Avenue, Grafton, Auckland

Profitable investment or development

If you're looking for a great development project or land banking that's almost guaranteed to make a good profit, don't look past this fantastic opportunity.

This property being a central city location offers you the very unique large 771sqm level site with high-end development potential and great rental return while land banking.
Close to Auckland Hospital and Newmarket Centre walking distance to the Auckland Domain minutes to Auckland CBD. School zones include Auckland Grammar, Newmarket School, Parnell School, and Auckland Girls Grammar, and are close to top private schools, this desirable location has a lot to offer.

The freehold property currently contains 6 individual flats ranging from 1-3 bedrooms, 6 off-street car parks, and 1 lock-up garage upgraded in recent years with re-piling new roof, upgraded ceiling, and underfloor insulation, and returning approximately $125,000.00 annual rental when fully let.
Zoned Mixed House Suburban With underground services in front (info taken from Auckland Council Geomaps), this is a unique opportunity for development and of course a great land banking opportunity.

*Set Sale Date, 4:00 pm, Friday 4th August 2022, 50 Remuera Road (Unless sold prior)*