28A High Street
Glenholme, Rotorua District
Glenholme, Rotorua District
SOLD
6
5
1
Multi Income Flats - Partially Fire Damaged
Auction: 3.30pm, Thursday the 10th April 2025 at the Ray White Auction Rooms, 1239 Amohia Street, Rotorua (unless sold prior)
This Historical Villa, currently divided into five flats, offers an exciting investment opportunity. The council records suggest a potential layout with four flats, see approved Building Consent BC24-010741. While the property is being sold in "As Is" condition due to fire damage sustained in June 2023, its potential remains high.
Before the fire incident, the property was generating a total ROI of $94,100.00. With a thoughtful restoration and modern upgrades, this income could be quickly restored - and even increased.
While some areas of the villa boast modern features, other parts would benefit from a touch of interior design to unlock their full potential. Here's an overview of each flat:
Yellow Flat: Recently updated with a modern kitchen, ready to offer contemporary living.
Orange Flat: Affected by the June 2023 fire. Restoration efforts are required here, but this presents a chance to reimagine the space.
Green Flat: Ceilings were removed for fire investigation, but no fire damage has been recorded. This flat holds the potential for easy restoration.
Teal Flat: Renovated with a modern kitchen and bathroom, making it a desirable unit for tenants.
Pink Flat: Retains original decor, offering a charming vintage feel but could benefit from an interior design update to bring it in line with modern expectations.
Blue Area: A communal laundry space.
Each flat has its own separate meters, ensuring ease of management and tenant independence.
Given the nature of this sale and the fire damage history, we strongly recommend bringing in a specialist to conduct a thorough investigation of the entire property.
Our owners are motivated and have made it clear: they require a sale. We're happy to discuss your ideas and potential functional plans. Don't miss this opportunity-call to register your interest and arrange a private viewing.
View our auction live: https://rwrotorua.co.nz/watch-our-auctions-live Disclaimer - This property is being sold by auction and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes. All prospective purchasers shall complete their due diligence, seek legal and expert advice, and satisfy themselves with respect to information supplied during the marketing of this property, including but not limited to: the floor and land sizes, boundary lines, underground services, along with any scheme plans or consents.
This Historical Villa, currently divided into five flats, offers an exciting investment opportunity. The council records suggest a potential layout with four flats, see approved Building Consent BC24-010741. While the property is being sold in "As Is" condition due to fire damage sustained in June 2023, its potential remains high.
Before the fire incident, the property was generating a total ROI of $94,100.00. With a thoughtful restoration and modern upgrades, this income could be quickly restored - and even increased.
While some areas of the villa boast modern features, other parts would benefit from a touch of interior design to unlock their full potential. Here's an overview of each flat:
Yellow Flat: Recently updated with a modern kitchen, ready to offer contemporary living.
Orange Flat: Affected by the June 2023 fire. Restoration efforts are required here, but this presents a chance to reimagine the space.
Green Flat: Ceilings were removed for fire investigation, but no fire damage has been recorded. This flat holds the potential for easy restoration.
Teal Flat: Renovated with a modern kitchen and bathroom, making it a desirable unit for tenants.
Pink Flat: Retains original decor, offering a charming vintage feel but could benefit from an interior design update to bring it in line with modern expectations.
Blue Area: A communal laundry space.
Each flat has its own separate meters, ensuring ease of management and tenant independence.
Given the nature of this sale and the fire damage history, we strongly recommend bringing in a specialist to conduct a thorough investigation of the entire property.
Our owners are motivated and have made it clear: they require a sale. We're happy to discuss your ideas and potential functional plans. Don't miss this opportunity-call to register your interest and arrange a private viewing.
View our auction live: https://rwrotorua.co.nz/watch-our-auctions-live Disclaimer - This property is being sold by auction and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes. All prospective purchasers shall complete their due diligence, seek legal and expert advice, and satisfy themselves with respect to information supplied during the marketing of this property, including but not limited to: the floor and land sizes, boundary lines, underground services, along with any scheme plans or consents.
