Tidy, Multi Income with Add Value Options, Top Suburb

  • 73 Sunbrae Drive, Silverstream, Upper Hutt
  • 2 x 2 Beds
  • 2 x 1 Bath
  • 170m2

Description

Silverstream is one of the best suburbs in Upper Hutt - mostly high end homes, decile 9 primary schooling, top secondary schooling and one of the best supermarkets in the country.

  • 2x2 concrete brick units (unusual to have units in this family-home orientated suburb)
  • One title
  • 1 is very tidy, 1 could do with a minor, interior, cosmetic tidy up
  • Decramastic roof of both units could do with some minor work and a recoat
  • Both have heatpumps installed

Long-term plan would be to turn into 2 x 3 bedrooms in each by changing current dining room to 3rd bedroom. This would create $6,000 cashflow PA on 100% borrowing (with an interest only loan). We can assist in managing this any renovation work for the purchaser if required.

Numbers:

  • PP $670,700 (including IFP buyers agency fee)
  • Reno to create 3rd bedroom in both units and cosmetic tidy up of flat B and roof repairs approximate cost. $19,000 (quotes to confirm this are coming)
  • Rental Appraisal given as 2 x 3 beds at $470-$510 p/w
  • Total spend $690,000
  • GY at total $1000 rental income per week 7.5%
  • If you decide to do nothing in the short term then Rental Appraisal as is 2 x 2 beds at $410- $430 p/w
  • Total Spend $670,700
  • GY at total $860 p/w rental income per week 6.5%

Potential Bonus - you may be able to subdivide into two separate titles - Subject to council approval.

Multi-income opportunities in superior locations like this do not come up very often. These are the ones you will want to hold on to for a long time, enjoy the income and the long term gain that is likely here due to the premium location.

Contact Kelly right now, to register your interest.

PROPERTY DETAILS
  • Estate type: Freehold
  • Rental status: $300 p/w
    $340 p/w
    Total - $640 p/w
  • Rental appraisal:$430 each p/w - As is
    $510 each p/w - Upgraded each to 3 bedrooms
    TOTAL: $860 - $1,020 p/w
    Written Appraisal available to potential purchasers
  • Floor area: 170m2
  • Land area: 792m2
  • Bedrooms: 2 x 2
  • Bathrooms: 2 x 1
  • Car parking: 2 x 2
  • Rates: $3,575
AMENITIES

Few minutes drive or 10-15 min walk to shops, a very good supermarket, train station and all levels of schooling. 5 min drive to SH2 for commute north or south, 10 mins drive to central Upper Hutt City

LOCATION
  • $670,700
  • Gross yield: Potential 7.7%
  • Rental appraisal: $430 each p/w - As is $510 each p/w - Upgraded each to 3 bedrooms TOTAL: $860 - $1,020 p/w Written Appraisal available to potential purchasers
  • Annual rates: $3,575
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