Caprera Street, Melrose, Wellington

Developers, investors and astute landlords won't believe everything this unique multi-income opportunity offers in a prime location on the cusp of the city. Currently configured as SIX - TWO & THREE-bedroom flats, it abounds in sun, space, character and development potential on a huge 1459sqm site that's on the bus route and Newtown's doorstep. The property also boasts development potential with the concept of a lapsed resource consent for a further five townhouses available.
Features include: 

- 420sqm^ picturesque villa conversion with six two & three-bedroom flats for a cash-flow bonanza with a gross rental of $176,000 in a location that's a magnet for professionals 
- Fantastic indoor-outdoor living, from multiple decks and verandas to communal grounds that abound in lawn, trees and birdsong
- Leafy, city-fringe location in quiet no-exit street overlooking Wellington Zoo and within a short stroll of the scenic Southern Walkway & Town Belt
- Exceptionally sunny, mega-size corner section with plenty of space to capitalize on the new housing density rules
- On the bus route for easy commuting, complete with bus shelter just across the road, and merely a few minutes' walk from Newtown's shops, cafes and hospitals
- Three-car garaging plus off-street parking for three cars: an amazing asset this close to the CBD

No wonder this incredible opportunity is for sale for the first time in over 30 years. If you have the vision to match its vastness and versatility, don't miss viewing, call us now for an appointment.

Tender closes at 1pm, Thursday 19th September 2024 at 8 Kent Terrace, Wellington (will not be sold prior)

(^ Source: Property Guru)