Unparalleled Potential

15 Ormond Road, Whataupoko

6 Bed
3 Bath
3 Car

Multiple dwellings on a premium site means a fantastic opportunity for the savvy investor. Consisting of 3, 2-bed dwellings (an older cottage and 2 purpose-built units) on a single title. Currently under-rented at $730 per week with long-term tenants, current rental appraisals show a possible return of up to $840 per week ($43,680 per annum), with potential for more with upgrades.

Alternatively, the site could be developed as the location is second to none, being literally walking distance to town and inner harbour area, and across the road from the extremely popular Gisborne Farmers Market with the potential for a business location (subject to Council approval). The older cottage on the Ormond Road frontage could be removed and replaced with a new dwelling, units or business premises and there is also scope for subdivision.

For sale by negotiation, call us for more details or to arrange a time to view

By Negotiation

Legal Description

Fee Simple
Lot: 27 Block A DP: 209 More particularly being the proposed subdivision of 15 Ormond Road, being the separation of 15 Ormond Road (the cottage facing the Ormond Road frontage) from 1 and 2, 15 Ormond Road (the units facing Railway Re

Floor Area

150 m2