6.0% GROSS YIELD POTENTIAL IN TAURANGA

Description

If you have been looking to double-dip on investment with both great returns and growth potential, this rare multi-income opportunity in the leafy suburb of Maungatapu is a must-see.

Upstairs features an open plan kitchen dining and living room, three bedrooms and one bathroom with a separate toilet. The living area opens out onto a large balcony with relaxing views out over the surrounding area. Downstairs features two units, a one-bedroom and a two-bedroom, both with open plan living areas and their own bathrooms. All units have access to a separate laundry room and a carport to keep cars off the main street. All of this is situated on a 761m2 site, more or less.

Elevated well above the street, the property is light and bright and attracts the full all-day sun. A prime location sitting right across the road from Maungatapu Primary School and the local shopping centre is just 800m away. Close to arterial routes, the property has easy access in and out of Tauranga.

There are a number of options here to suit a range of buyers seeking to build wealth.

- Continue to rent out as is (subject to HH upgrades, details pending).

- Improve rental return through renovation.

- Live in one of the units and have the other units cover your mortgage.

- Develop the property whilst receiving excellent holding income.

Currently under rented, a calculated 5.7% gross return is based on the midrange of appraised rents. There is an opportunity to improve returns further through cosmetic renovation.

Click on the links below for a virtual tour.

https://my.matterport.com/show/?m=QGihqCB9PSp

https://my.matterport.com/show/?m=AnaHy74oD9P

https://my.matterport.com/show/?m=hWqv4pbYobQ

Email me to register your interest for a link with the Council File/LIM, rental appraisals and other information. Otherwise, feel free to call me to discuss.

PROPERTY DETAILS
  • Estate type: Freehold
  • Rental status: $955 p.w
  • Rental appraisal:$1200 - $1330 p.w (Written rental appraisal available to potential purchasers)
  • Floor area: 
  • Land area: 761m2 more or less.
  • Bedrooms: 6
  • Bathrooms: 3
  • Car parking: 4
  • Rates: $5588.02
LOCATION
  • $1,150,000
  • Gross yield: Potential 6%
  • Rental appraisal: $1200 - $1330 p.w (Written rental appraisal available to potential purchasers)
  • Annual rates: $5588.02
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ABOUT THE AGENT

Chris Sim

Licensed Salesperson
REAA 2008