Auction this Thursday July 11th at Harcourts Takapuna - 128 Hurstmere road from 12pm Once in a Lifetime Buying Opportunity! 32 Karaka Street consists of five two-bedroom Franchi and Ion brick and tile units on 1378 sqm of flat, easy-to-develop land with an exclusive driveway in the ever-popular, growing suburb of Takapuna. Held tightly for over 30 years by our current owners, with all five properties currently tenanted (periodic; this will not prohibit any sales process with appropriate notice given), bringing in an annual income of over $140,000 annually. This enables an astute buyer to reduce holding costs and possibly achieve better-borrowing terms from a lender, making this investment a great land bank/development opportunity. The property will be sold as one proposition and will most likely appeal to a developer who can ultimately build multiple dwellings while enjoying the current rental income as the development process evolves. The property is classified urban zoning, allowing for intensification and higher-density development in the future. Services are available on-site, providing additional benefits to the new owner. The property is located in a sought-after development area. Its flat terrain offers easy and has its own exclusive driveway access. With proximity to major roads in and around the central North Shore. Nearby are excellent schools, reserves and beaches in Devonport, Milford, Bayswater and Belmont, not to mention the motorway links, North Shore Hospital and Smales Farm businesses and eateries. This is truly a once in a lifetime buying opportunity, please call Gary or Ben for an appointment or make sure you register your interest. Must be sold by auction Thursday, July 11th, from 12 pm at Takapuna Harcourts. To download property files, go to: https://www.harcourtsfiles.co.nz/listings/DSGV