Strong income. Long-term potential.

Available for purchase is this 2,231sqm (more or less) rectangular Mixed Housing Urban zoned landholding in the heart of an increasingly popular Panmure location.

Set back from the road and accessed via a right of way off Church Crescent, the elevated site enjoys sweeping views across the Panmure Basin and Tamaki Estuary.

The property is improved by 3 x 1960s brick and tile flats and a standalone brick and tile dwelling, generating income in excess of $100,000 per annum. All tenancies are periodic, providing immediate cashflow and flexibility for future plans.

The exteriors are well maintained, with scope to enhance value through selective interior refurbishment over time.

Opportunities to secure landholdings of this scale are becoming increasingly scarce. The combination of established income, Mixed Housing Urban zoning and a desirable elevated position creates a compelling proposition for investors, land-bankers and add-value buyers alike. The existing layout may also lend itself to future reconfiguration or subdivision opportunities, subject to council approval.

Conveniently located near Sylvia Park, the Panmure transport hub, motorway connections and Auckland's eastern bays.

Contact Mitch Owens - Bayleys Residential and Matt Dell - Bayleys Commercial today for further information.

• Returning over $100,000pa
• 3 x 2 bedroom, 1 bathroom flats
• 1 x 3 bedroom, 1 bathroom dwelling
• Auckland Council rates: $11,281.10pa