|Zoning||Napier Hill Character|
• 10-unit, residential flats consisting of 5 x 2 beds and 5 x 1 beds returning $152,620 PA rental income
• Premium seaside location with a 40 metre (approximately) frontage onto Napier's Marine Parade
• 2,643sqm land comprising two adjacent freehold titles
• A 1,679sqm site with 705sqm building and 964sqm bareland section
• Add value - development opportunity
Situated on Napier's Marine Parade, this iconic seafront two-storey building and section occupy a prime location with approximately 40m frontage and fantastic ocean vista overlooking the Ocean Spa complex and foreshore. This property is ideally positioned on the doorstep of Napier's beautiful Art Deco architecture and its many attractions, activities, shops and restaurants. Fantastic opportunity to upgrade the property to increase rental income or further develop this site into executive apartment living or a high-end office building (subject to council approvals).