Te Aro suntrap

39 Arthur Street, Te Aro


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Te Aro suntrap | 39 Arthur Street, Te Aro | 3251949 |      X Close

Te Aro suntrap

This is a two level property comprising retail and commercial on the ground floor, together with eight residential apartments above. In addition, there is generous parking to the front and it enjoys a wide frontage with a northerly aspect.

Built circa 1989, the property is a combination of concrete foundation, floors and timber frame construction together with fibre cement exterior and an iron roof. Configured into three commercial spaces on the ground floor currently utilised as a restaurant, hair dresser and commercial kitchen.

On the first floor are eight separate apartments configured as 2 one bedroom studios and 6, two bedroom apartments. The apartments are in good condition and each have newly refurbished kitchenettes and bathrooms. They enjoy a sunny northerly aspect and have had a very good leasing history.

The building has a rating 50% NBS as detailed in an IEP by Silvester Clark dated October 2018 (copy available on request).

•Spread of risk - across 11 tenants

•Great cashflow - commercial and residential income

•Approx net $271,405pa

•800sqm land (27m height limit)

•Strong underlying land value

39 Arthur Street, Te Aro

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