Two Titles, 8.5%+ Cash-flow + More Opportunity

  • 37 & 37A Ford Road, Fordlands, Rotorua
  • 3 + 2 Beds
  • 2 + 1 Bath
  • (37) 240m2 (37A) 60m2

Description

A rare opportunity in the hot Rotorua market to grab this dual income opportunity with great cash flow. Both dwellings are very separate from each other with off-road parking.

The larger front house consists of three bedrooms and two bathrooms and has just undergone a cosmetic makeover with new paint inside and out, new carpet and curtains and has been re-tenanted immediately.

Upstairs consists of two large bedrooms, a bathroom and toilet and the kitchen/living areas. Down a stairwell you come to a very large bedroom or rumpus room with another shower and toilet. this is attached to a sun-room and on the other side of this is another lined and carpeted "hobby room".

There is a wood-fire which is complaint with the new council rules for clean burning heating. Both dwellings are insulated and we have certification to show this is up to code.

The rear dwelling is an older initial style type of home with two bedrooms, new air conditioning unit and long term tenants.

Opportunities: Right now there's nothing to do but collect the cash-flow.! Good property manager in place. The main dwelling still has potential to add more value in the future - e.g. new kitchen, bathrooms etc. These properties can also be sold individually.

The council files are available for potential purchasers to view as part of their due diligence. We also have a copy of the recently completed Registered Valuation will will be made available to the purchaser for readdressing for finance if required.

Contact Maree today for further information.

PROPERTY DETAILS
  • Estate type: Crosslease (Freehold)
  • Rental status: Both dwellings rented now for $385 +$270 p/w = $655p/w
  • Rental appraisal:Properties are rented at market rate - RTAs available to prospective purchaser to view.
  • Floor area: (37) 240m2 (37A) 60m2
  • Land area: 817m2
  • Bedrooms: 3 + 2
  • Bathrooms: 2 + 1
  • Car parking: 2 + 1
  • Rates: $2,407 + $2,311 = $4,718
AMENITIES

Located on main bus route and short walking distance to all forms of schooling, shops, supermarket and medical centre.

LOCATION
  • $397,000
  • Gross yield: 8.6%
  • Rental appraisal: Properties are rented at market rate - RTAs available to prospective purchaser to view.
  • Annual rates: $2,407 + $2,311 = $4,718
REPLY TO THE LISTING
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ABOUT THE AGENT
Maree Tassell

Maree Tassell
Licensed Agent - REAA 2008

maree@ifindproperty.co.nz
027 486 6146

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