Units 1 - 4, 59 Ranui Avenue, Timaru, Timaru

A range of opportunities - invest or develop

1-4/59 Ranui Avenue is offered sale as a single parcel or in conjunction with the properties located at 18, 18A and 20 Hobbs Street and 1 and 2/63 Ranui Avenue.

•1,418sqm (more or less) fee simple site with large road frontage
•Comprising four residential flats returning a total of $48,880 p.a
•Zoned Residential 2 under the Timaru District Plan

This purpose-built Brick clad 2-bedroom block of four flats is well positioned on a level section. Each flat contains a sunny living/dining area that opens out onto the front patio area, the kitchen is located off the dining area and with a separate bathroom. The interiors are all in good condition but could be enhanced with modernisation. There is off street parking for all tenants and a shared sunny front garden area. The units are currently fully occupied and provide a total net return of $48,880 p.a.

Located just off State Highway 1, between the city centre of Timaru and the commercial suburb of Washdyke, this property adjoins the site of the City's largest Supermarket and is located near several other commercial retailers. The site is only a fifteen-minute walk to a few of the popular local amenities including Caroline Bay and the City's Aquatic and fitness centre.

Investors - these properties provide a solid investment opportunity in central Timaru.
Developers purchaser these properties as part of the larger parcel and take advantage of the holding income while formulating your plans for the future development of the site.

Do not miss this opportunity! Call now for full information.