Mt Maunganui 5A/5B/1-5 Mardi Place
Tender 1st July
Triple the Income, Triple the Opportunity
Investors, developers and savvy buyers will immediately recognise the opportunity on offer at 5 Mardi Place, Mount Maunganui.
Positioned on a generous 890sqm (approx) site, this property comprises three separate two bedroom units, each with its own exclusive outdoor area and single carport, creating an attractive multiple income investment in the Mount.
Held in largely original condition, the units present exciting scope to renovate, modernise and add significant value over time. Whether you're looking to maximise rental returns, undertake a staged refurbishment programme, or secure a landholding with strong future potential, the options here are plentiful. The well positioned site enjoys excellent sun and a practical layout that has stood the test of time. The separate crosslease titles provide flexibility rarely found in multi unit investments and numbers that stack up, opportunities like this are becoming increasingly difficult to find. Conveniently located close to Mount amenities, shopping, transport links, and the beach, this is a compelling investment package that offers both immediate income and future upside.
Investment Highlights
• Three two-bedroom units sold as one package
• Each unit on its own cross-lease title
• 890sqm (more or less) site
• Single carport for each unit
• Exclusive use outdoor areas
• Original condition with scope to add value
• Multiple income streams
• Strong investment fundamentals with upside potential
Property ID:
EMT21795
Legal Description:
5A Mardi Place Firstly an estate in fee simple as to an undivided 1/3 share in all that parcel of land containing 890 square metres (more or less) being Lot 65 on Deposited Plan 17009 and Secondly an estate in Leasehold under Lease number H168811.1 being Flat 1 and Carport 1 on Deposited Plan 25342. Both the first and second estates being comprised and described in Record of Title SA23B/92 (South Auckland Registry). 5B Mardi Place Firstly an estate in fee simple as to an undivided 1/3 share in all that parcel of land containing 890 square metres (more or less) being Lot 65 on Deposited Plan 17009 and Secondly an estate in Leasehold under Lease number H168811.2 being Flat 2 and Carport 2 on Deposited Plan 25342. Both the first and second estates being comprised and described in Record of Title SA23B/93 (South Auckland Registry). 1B Mardi Place Firstly an estate in fee simple as to an undivided 1/3 share in all that parcel of land containing 890 square metres (more or less) being Lot 65 on Deposited Plan 17009 and Secondly an estate in Leasehold under Lease number H168811.3 being Flat 3 and Carport 3 on Deposited Plan 25342. Both the first and second estates being comprised and described in Record of Title SA23B/94 (South Auckland Registry).
Year Built*:
1978
Exterior Construction:
Brick, Concrete Block, Fibre Cement
Roof:
Corrugated Iron
Joinery:
Aluminium
Land Area:
890 square metres (approx)
Bedrooms:
6
Chattels:
Curtains, Fixed Floor Coverings, Light Fittings, Free-standing Electric Stove x 3
*Please note: the floor area and property information was sourced from Property Guru and/or LINZ.
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