45 Paterson Street , Mount Maunganui, Tauranga, Bay Of Plenty

Adding sweat equity value to property was how the baby boomers climbed the property ladder. Today that effort is still financially rewarding. With location, location, location backing this separate title on the high side of the street, one back from the beach presents an opportunity for the energetic. The 1980’s bach needs repair and maintenance, it is to be sold as is. Therefore, it presents as the more affordable among the expensive in this popular street. With an access way to the white sand beach and renowned surf breaks two doors away, transformation into a beach-lifestyle living pad is the potential here. With a land value at 85% of the property’s capital value suggests it is undercapitalized. Removal and redevelopment to the 424 sqm. section’s full potential is the second option. Education begins at in- zone Arataki Primary while Mt. College and Intermediate are within biking distance. Te Kura o Matapihi, offering Te Reo Maori total Immersion years 1 to 8 is in the district. Beyond your morning coffee at Kawakawa café, around the corner, the Baywave Aquatic and Gymnasium Centre provides for your fitness and health. Across the road is the Bayfair Shopping Complex for retail therapy. You have a choice of two 18-hole golf courses for your leisure time. With all the above being with an easy walk or certainly within the 5-minute drive zone explains the demand for the medium density apartment developments in Arataki in more recent years. Arataki is one of three coastal suburbs on the coveted Mt. Maunganui isthmus. From the iconic mountain, Mauao through Omanu, the land values have seen steady ascendancy on this most beautiful Bay of Plenty Coast. It’s a little late to be talking “step onto the first rung … ” as Arataki and particularly Paterson Street has been well discovered. However, with the real estate market paused, the astute will move before the next surge.