120 Tennyson Street, Napier South, Napier

Entry Level Investment, 100% Seismic Rating

First time offered to the market for over 20 years, this unassuming and understated freehold property is an unpolished gem that has been assessed at 100% of New Build Standard and holds options galore for future, add value potential.
Fully occupied, the current net income is approximately $24,800 plus GST p.a. with both tenancies at the beginning of three year terms. The primary tenant is an established therapeutic masseur and sauna while the compact upstairs space is occupied by dental service provider, Jasons Crown and Bridge. Each tenancy enjoys dedicated kitchenette and toilet facilities.
A dependable investment for many years the property has served the current owners well but a change in their circumstances means it is now seriously for sale with the date of auction set.
Auction, 2pm, 28th February 2019 at 52 Bridge Street, Ahuriri, Napier.
-Superb add value, entry level investment opportunity
-Excellent visibility on a main CBD thoroughfare
-100% New Build Standard
-Current net income approximately $24,800 p.a.
-Multiple tenancies
-Approx. 160sqm total floor area
-139sqm freehold land (more or less)