Ray White Epsom
Real Estate Agents
- Listing #:
- EPS32401
- Listed:
- 55 days ago
Price By Negotiation
Developer/Investor's Dream!
5 Oaklands Road, Mount Eden, AucklandResidential House
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- 8 Bedrooms
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- 5 Bathrooms
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- 3 Covered Car Parks
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- 4 Offstreet Car Parks
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- 360m2 Floor Area
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- 1,115m2 Land Area
About this property
Want a new project but need some time to think? With this incredible chance, you can gain a solid income from five properties while you ponder the best course of action for the quarter-acre site.Sited so brilliantly to take advantage of the city-fringe positioning, the 1900's home is currently split into five flats, each with long-term and stable tenants. It's literally a minutes walk from Mt Eden village and so close to Maungawhau.
And look at all that space! Sitting on a wonderfully generous - and flat - section and with the option to subdivide, this home looks like the obvious choice for those looking for a development opportunity. The freehold 1,115 sqm site is in the Zone 18 Residential - Mixed Housing Suburban Zone and can be subdivided, subject to council approval.
This is the first time the section has come onto the market in 50 years, so it will be hotly sought-after for its excellent positioning. Oaklands Road is in the zone for Epsom Girls Grammar School, Auckland Grammar, and high-decile Auckland Normal Intermediate and Mt Eden Normal School.
It's got great public transport links to the city and fantastic motorway access. With Newmarket on the doorstep too, all the needs are covered and will continue to be desirable for tenants now and future homeowners.
Not to mention an attractive return of $136,000 per annum for the five flats! If you're an investor, developer wanting to land bank - you won't find a better option than this in the city fringe!
Note: Our open homes are for exterior viewing only as the flats are tenanted. Please enquire within for more information.
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