Hauraki, Paeroa 14A Norwood Road

Exceptional Investment Opportunity at 14a Norwood

Nestled in the heart of Paeroa, 14a Norwood Road presents a remarkable investment prospect for savvy investors, DIY enthusiasts, and property flippers. This property comprises three separate units - two 2-bedroom units and one 1-bedroom unit - each offering distinct features tailored for comfortable living.

Key Investment Highlights:
• Substantial Rental Income: With an average rental appraisal of approximately $70,000 per annum, this property promises impressive returns, making it a lucrative addition to any investment portfolio.

• Value-Add Opportunity: The property requires some refurbishment, providing the perfect opportunity for investors to enhance its value through renovation. Once completed, it will offer significant rental demand in this growing area.

• Separate Utilities: Each of the three units is independently metered for both water and power, ensuring easy management of utilities and expenses for tenants and owners.

• Ample Parking: The property features off-street parking for 8 vehicles-2 spaces per unit plus an additional 2 visitor parks - addressing the needs of residents and guests while adding to the overall convenience and appeal of the property.

• Upgraded Roof & Infrastructure: The roof has been upgraded, and a new stormwater system was installed last year, reducing long-term maintenance costs and ensuring that the property is in great shape for years to come.

• Healthy Homes Compliance: The property is already compliant with Healthy Homes standards, ensuring tenant comfort and peace of mind. It only requires minor fittings to be fully compliant with the latest regulations.

• Generous Outdoor Living Spaces: Each unit enjoys its own private outdoor area, perfect for families and children. The spaces are large enough to accommodate outdoor features like trampolines or swing sets, adding significant appeal for tenants with kids.

• Desirable Location: Situated in a peaceful, family-friendly neighbourhood on the more desirable side of Paeroa, the property is surrounded by owner-occupied homes. With friendly neighbours and a quiet atmosphere, it's an ideal spot for tenants looking for a safe, community-oriented environment.

The Units:
• Two 2-bedroom units, spacious and perfect for small families or long-term tenants.
• One 1-bedroom unit, ideal for singles or couples seeking a comfortable and affordable living space.

Exciting Developments Nearby:

• Longridge Country Estate Retirement Village (2 mins away): This expansive 90-acre development will feature up to 420 villas, providing high-quality accommodation for retirees. The development will offer modern amenities, including a recreation center with a cafe, bar, indoor swimming pool, spa, movie theater, and beauty room. This development will cater to the aging population and attract new residents, further boosting the local economy.

• Paeroa Racecourse Redevelopment: The former Paeroa Racecourse is being redeveloped into a mixed-use area with residential housing and commercial spaces. This project is expected to create new job opportunities and bring significant population growth to Paeroa, with predictions of a 40% population increase once the development is complete. The area will include residential properties, a commercial hub, and new infrastructure.

14a Norwood Road offers a rare combination of immediate rental income, renovation potential, and proximity to major developments poised to uplift the Paeroa community. Whether you're an investor seeking strong returns, a DIY enthusiast looking for a project, or a developer aiming to capitalise on Paeroa's growth, this property represents an exceptional opportunity.

Please note: the floor area and property information were sourced from Property Guru and/or LINZ. Photos have been digitally enhanced.