Current Cash Flow 7%

  • 26 Pah Road, Papatoetoe, Auckland
  • 3/4 Beds
  • 1.5 Bath
  • 192m2 - 235m2 Approx

Description

Currently yielding over 7% gross, rented for $1,000 per week (including power & water) to Housing New Zealand as temporary accommodation for its tenants who are on a fixed term tenancy until April 2020.

There is a Property Manager in place who manages not only any communication with HNZ but also but also regular cleaning and maintenance paid by the tenant, making this a hassle free investment.

The tenants are happy to continue, so this is a great opportunity to reap solid cash flow.

Such high yield properties are hard to come by especially in Auckland!

Note - the actual market rent of this property is less than what is being achieved currently and in a likely event of when HNZ doesn't have tenants in the property, rent is paid at market rate during the vacancy period.

PROPERTY DETAILS
  • Estate type: Crosslease (Freehold)
  • Rental status: Vacant 
  • Offer type: For Sale, Open House 
  • City: Tokoroa 
  • Zip code: 3420 
  • Neighborhood: Clyde Street
  • Street: 10 Clyde Street, Tokoroa, 3420
  • Bedrooms: 3
  • Bathrooms: 1
  • Property size: 500 sqm
  • Floor area: 75 - 91m2 Approx
  • Land area: 192m2 - 235m2 Approx 
  • Year: 2007
  • Annual rates: $2336.37 + $197.84
AMENITIES
  • Easy access to all the amenities and facilities Papakura has to offer, with rail, bus and motorway links minutes away.

LOCATION
  • from $739,000
  • Gross Yield: Approx 4.8%
  • Rent Appraisal:
    3 Bedroom - $670-$700 p/w
    4 Bedroom - $800-$850 p/w
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ABOUT THE AGENT

Shah Khambatta

Licensed Salesperson
REAA 2008

Maree Tassell

Licensed Salesperson
REAA 2008