Blue Chip Real Estate with Huge Potential


21 Lake Road, Ohinemutu

Asking Price NZD $1,500,000

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Blue Chip Real Estate with Huge Potential | 21 Lake Road, Ohinemutu | 2304840 |      X Close
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Blue Chip Real Estate with Huge Potential


Freehold land, buildings and all chattels "turn key" and a net return of approximately $70,000 per annum

Lake Side City Apartments embrace the essence of Rotorua. On a blue chip site overlooking the lake, Ohinemutu Village and historic St Faith's Anglican Church, the views and location are magnificent. Rotorua's picturesque lakefront and the city's renowned Eat Street are strolling distance while the acclaimed Polynesian Spa, Government Gardens and Rotorua Museum of Art and History are a quick drive.

Currently run as self-catered holiday accommodation, the versatile property generates three separate income streams. The upper level comprises a one-bedroom penthouse suite plus a fully appointed studio room. Ground floor contains three generous ensuite bedrooms and an open plan kitchen, dining and lounge zone extending onto a large sunny terrace and spa pool overlooking the visitor-friendly Maori village, Ohinemutu's unique timber church intricately decorated with Maori carvings, and Lake Rotorua. This alfresco is the idyllic spot to relax, enjoy the views and be awed by the mist rising off the lake in winter.

The tastefully refreshed apartments come with a raft of possible uses, including a live-in option to save on management costs. Lake Side City Apartments have an established name and guest reviews are highly favourable.

A major drawcard is the historic location. Settled by Ngati Whakaue circa 1350AD, the tribe chose this area for its lakeside setting and abundant geothermal energy, used for cooking, bathing and heating. Its heritage is carefully preserved.

Perfectly positioned for visitors and locals alike, the apartments are in a superbly convenient spot for an optimal Rotorua experience. Cafes and restaurants, craft markets, parks, reserves, retail and family-orientated activities are all an easy walk - and local history is on the door-step.

21 Lake Road, Ohinemutu

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