LANDBANK OR DEVELOP, THE CHOICE IS YOURS

Listing Number:  2773
Posting Date:  13 June 2017






 
Price:$420,000
Listing:LANDBANK OR DEVELOP, THE CHOICE IS YOURS
Type:House : Subdivision Potential
Category:Private Sale
Bedrooms:3
Bathrooms:1
Region:Bay Of Plenty
Site Area:85 m2
Address: Login
Building Area:1,136 m2
Property Image

Description:

This property is located in Springfield, a very sought-after suburb in Rotorua. The current yield isnít flash, but just imagine what you could to with this property!

1. You could keep it as it is and get $370 per week in rent while both the house and the land in all likelihood further appreciate in value.

2. You could turn the huge backyard into a 600m2 (more or less) section and sell the subdivision off in this highly sought-after prime location in the popular suburb of Springfield. Research suggests that a build-ready section should sell for 200k+. A couple of smaller sections (450m2) in the immediate area were selling for around 180k not long ago. Land to build on is in short supply in Rotorua.

3. Or for the true developer, remove the original house, subdivide and put two new, modern homes on two sections. This is exactly what happened at the neighbouring address about ten years ago, and these homes are now jointly valued at 1.2 million dollars.

Call Maurice now on 021 141 0942 for more information.


Additional Documents:

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Description: Council Rates
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