Listed: Fri, 17 Nov

Own the Block: 9-Unit Building

2 Moncrieff Street, Mount Victoria, Wellington, Wellington

Enquiries over $3,400,000

6+ Beds
6+ Baths
440m² Floor
372m² Land

Other Features

6+ Separate toilets
2 Garage parking
6+ Off-street parking

Attribute	Value
Property type	House
Capital value (CV)	$3,698,000
Agency reference	WL37923
Broadband in the area	Fibre, ADSL, Cable, VDSL, Wireless

9 Fully Self-Contained Apartments Generating Consistent Income!

This exceptional income-generating property in Mt. Victoria is your chance to own a piece of prime real estate. With 9 fully self-contained 1-bedroom studio apartments, each averaging $530 per week in rent (inclusive of electricity and Wi-Fi), you're guaranteed a steady income stream.

Strategic Location & Excellent Amenities:

Located within walking distance of city amenities and transportation, this property offers unparalleled convenience for tenants. Additionally, it boasts 5 carports, 2 garages, a manager's office/workshop, and 6 storage lockers, providing ample space and functionality.

Unleashing Future Potential:

This property offers exciting development opportunities, subject to council permits. Maximize its value by exploring options like:

Converting to Short-Term Rentals: Cater to tourists and business travelers through platforms like Airbnb for potentially higher revenue. Expanding and Redeveloping: Consider increasing the building's footprint or redeveloping it into a mixed-use complex, boosting property value and rental income. Creative Redevelopment: Transform the property into a co-living space, a student dormitory, or a boutique hotel, targeting specific demographics for even greater returns. Don't miss this prime investment opportunity with exceptional development potential!

Contact us today for an information pack and to schedule a viewing. Please note that viewing is strictly by appointment only.