[SOLD] Huge Potential just a Stone's Throw from the Lake!

45 Bennetts Road, Koutu, Rotorua - $299860

Just a few doors from the lake edge and 5 minutes from the city centre sits this hidden gem bursting with potential.


Highlights:

Property Features: Huge 1678m2 section close to lake

  • Price: $299860
  • Gross Yield: Potential 6.8%
  • Capital Value: $163,000
  • Rental Status: Vacant
  • Rent Appraisal: $380 - $400 p/w
    Written Appraisal available to potential purchasers
  • Annual Rates: $2,482
  • Estate Type: Freehold
  • Floor Area: 100m2
  • Land Area: 1678m2

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Additional Information

The first thing that hits you is the section size - a huge 1,678 m2. Current Rotorua Lakes Council regulations state you need 450m2 to subdivide so there is the potential to add 2 extra dwellings on a flat easy access site.

The existing property is a 1970's bungalow in good condition at set to catch the sun beautifully. It has three double bedrooms with spacious open plan living area complete with a compliant freestanding fireplace. Perfectly ready to move tenants in.

The kitchen has recently refaced cupboards and bench top was renewed recently so modern and easy care.

The bathroom has a brand new toilet, tidy but original vanity and large shower. The bathroom ceiling just needs a paint and a ventilation fan.

The house is well sited at the front of the section leaving a huge vacant area at the rear of the property, with the potential of adding 2 extra dwellings subject to council consent. The old garage has been lined and insulated and could make a good hobby room or with council consent a sleep out for a teenager and bring in extra rent of about $30 - $40p/w.

The driveway is gravel and the property would be greatly improved by adding a sealed drive.

Being about 100m from Lake Rotorua, just a short flat walk from this home with lovely lake views from the gate. If this wasn't enough the Rotorua city is 2 minutes drive or an easy 15 minute walk passing Rotorua Hospital on the way.

There is a significant amount of new development happening in this area of Rotorua with many large hotels earmarked in the area and a large site nearby that appears to be owned by a housing company. With a large number of quality homes nearby as well as the possible new housing developments this home will be set in an area about to be gentrified. This property screams opportunity!

Amenities

Lake Rotorua, Rotorua Hospital, Aquatic Centre, Kuirau Park, Skate Park; CBD, Weekend Markets

QV Property Report 22 Leslie Avenue Western Heights Rotorua 3015.pdf

Rates File 22 Leslie Avenue Western Heights Rotorua.pdf

Debbie Van Den Broek
Licensed Salesperson - REAA 2008

debbie@ifindproperty.co.nz
021 131 6119

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Agent Contact Details

Debbie Van Den Broek
Licensed Salesperson - REAA 2008

debbie@ifindproperty.co.nz
021 131 6119

Debbie has been wonderful to work with. She was professional, thorough and has an inside knowledge about the Rotorua market. On top of this she is willing to share her extensive knowledge with her clients as she is on the side of the investor."