Kapiti Coast Multi Income with 8%+ Cashflow

  • 70 Toi Street, Otaki Beach, Otaki
  • Beds
  • Bath
  • 140m2

Description

Here are the numbers:

  • Purchase price $355,000
  • Front flat $260 p/w (includes $3 per week from tenant for water usage)
  • Back Flat is currently advertised at $315 p/w (includes $3 per week from tenant for water usage)
  • This will return a very healthy 8.4% Gross Yield
  • Rates = $2,766.15
  • Water Supply charges = $199 per annum
  • Insurance = $1,869.60 (Current annual)

This multi-unit property is currently under property management at 8% + GST so would be an easy passive investment. It is suitable to rent as is but also some upside to increase yield even further with some improvements.

With the new motorway scheduled to start work soon, this means even better demand and access for this popular Kapiti Coast location.

We also need to disclose to you that the seller of this property is related to the listing agent and any potential purchaser will be provided with a Section 136 Disclosure form as per the REAA requirements.

If you are cashed up, ready to go and after a cashflow property, then you better contact Peter quickly.

LIM and 2014 Builders Report available to potential purchasers.

PROPERTY DETAILS
  • Estate type: Freehold
  • Rental status: $260 p/w (Front Flat)
    $315 p/w (Rear Flat currently advertised)
    Total: $575 p/w (8.4% yield currently)
  • Rental appraisal:$250 - $270 p/w (Front Flat)
    $310 - $340 p/w (Back Flat)
    Total: $560 - $610 p/w
    Written Appraisal available to potential purchasers
  • Floor area: 140m2
  • Land area: 582m2
  • Bedrooms:
  • Bathrooms: 
  • Car parking:
  • Rates: $2,767
AMENITIES

Short walk to Otaki Beach

Close to shops, transport and schools

LOCATION
  • $355,000
  • Gross yield: Potential 8.9%
  • Rental appraisal: $250 - $270 p/w (Front Flat) $310 - $340 p/w (Back Flat) Total: $560 - $610 p/w Written Appraisal available to potential purchasers
  • Annual rates: $2,767
REPLY TO THE LISTING
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ABOUT THE AGENT

Peter Ambrose

Licensed Salesperson
REAA 2008

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