Listing Description
9 Dwellings-5,000sqm Site - $280,000 Gross Income
148-152 Champion Street, Cannons Creek, Porirua, Wellington
Details
| Attribute | Value |
|---|---|
| Property type | House |
| Capital value (CV) | $2,150,000 |
| Agency reference | L39555644 |
| Broadband in the area |
Description
Buyer Budget from $2,800,000
An exceptional large-scale investment opportunity within the Porirua community. Set on a substantial 5,000m² site, this circa-1975 property comprises nine residential dwellings held on one title, configured across three buildings arranged in a tidy row. The mix includes:
- 3 x four-bedroom homes
- 6 x three-bedroom homes With an impressive weekly rental income of $5,395, generating approximately $280,000 gross per annum, this is a proven performer delivering strong, consistent returns. Zoned Medium Density Residential within an Intensification Precinct, the site allows for buildings up to 18 metres in height, presenting future development or redevelopment upside. Whether you choose to landbank, further enhance, or explore intensification options, the fundamentals here are compelling - scale, income, and zoning flexibility. Location Highlights Porirua offers the perfect balance of urban convenience and natural beauty. Enjoy proximity to beaches, estuaries, bush walks, and parks, while still being within easy reach of Wellington City and the Kapiti Coast. The nearby train station on the Kapiti Line provides quick and convenient access into the capital, complemented by regular bus services and excellent motorway connections. Porirua is known for its strong community feel, extensive shopping options, and abundant outdoor activities - making it a consistently desirable rental location. Add this substantial, income-generating property to your portfolio and let your property manager take care of the rest.
Deadline Sale Closes Thursday 19th March at 12:00pm (unless sold prior)
Open home times
Local Schools
While we've done our best to correctly list schools in this location, school zone information may not be exact, so please double check with the school.
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