Professionals Tauranga - TSG Realty
Real Estate Agents
- Listing #:
- L29524810
- Listed:
- 33 days ago
$3,500,000
Extended Families & Savvy Investors, What a Find!
38 May Street, Mount Maunganui, TaurangaResidential House
-
- 8 Bedrooms
-
- 3 Bathrooms
-
- 1 Car Garage
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- 203m2 Floor Area
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- 756m2 Land Area
About this property
This centrally located property in Mount Maunganui is not just an ideal family retreat but a goldmine for developers and investors. Situated on approximately 756m2 in a high-density zoning area, it offers immense development potential. Dive into the development draft proposal or connect with the local Council to explore the possibilities.A stone's throw from Mount Main Street, the property sits amid boutique shops, fine dining, and the unique Mount lifestyle. Adventure and leisure are at your doorstep, with both Mount Maunganui Beach and Pilot Bay just a ten-minute walk away.
The character cottage on the property has previously been a lucrative AirBnB, generating a substantial return of approx $60k/yr. It houses three sizeable bedrooms, a newly renovated bathroom with a waterfall showerhead, a separate toilet, and an additional sleepout room - perfect for larger families or extra guests.
The second dwelling features 2 x 2-bedroom flats, each with an open-plan kitchen-lounge and sizeable decks for soaking up the afternoon sun. These flats can be rented individually and include four car parks, bringing the total to over eight parking spaces on the property. Although last renovated in 2008 and showing signs of wear, these dwellings remain comfortably liveable.
This property is an excellent opportunity for those seeking multiple income streams or developers eyeing their next big project in a prime location. All of these properties have the potential to collectively bring in $100,000 annually. The rental breakdown is available on request.
Embrace the chance to be part of the vibrant Mount Maunganui community and explore the limitless possibilities this property has to offer. Copy and paste the link below, click on the "Files" button under the property photos to request the property files.
www.professionals.co.nz...
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