171K Equity & 7% Gross Yield Dual Income in Great Location


These two modern units are a private location well off the road yet close to the city and all amenities.

Built in 2017, it's immediately obvious upon viewing, that these dwellings are of a high-spec quality and enjoy a number of special features.

Entrance to both units is via a deck which enjoys an outlook over trees and private gardens which are also part of the property. The deck allows indoor/ outdoor flow from the lounge and kitchen/dining areas. The kitchens are modern and spacious and include dishwashers, tile detailing behind the cooktops, waste masters and good ventilation.

Throughout both units are feature "chandelier" light-fittings which give a bit of wow factor, and this continues in the combined bathroom and laundry area with a claw footed bath, separate shower and feature vanity.

Covered parking with a high stud is adjacent to both units and each dwelling also has it's own storage shed and clothesline area.

Both tenants have turned their houses into a home and would love to stay. The current owner has been self-managing the units and they are currently under market rent at $540 (unit a) and $550p/w (unit b). We have a written rental appraisal advising that $570 - $610 is market level. There is also the option to rent these properties to a social housing provider and therefore claim the interest as an expense and we can provide further information on this.

A registered valuation has just been completed for $1,050,000 and is available for viewing by prospective purchasers. The vendor is committed to selling and welcomes all offers.

Currently on a freehold title, the title has resource consent to subdivide to two titles and more info can be provided.

You will note from the photos that both dwellings are built well above the ground to make them "floodproof'. The section is accessed via a long driveway down a slope which continues beyond this section. We have been advised that no damage occurred during the recent North Island flooding events and these units were kept high and dry. Potential purchasers will also be provided with a copy of the Tauranga council file which has detailed information on the local flood zones.

You will also see from the photos that there is a driveway in front of the building and this provides access via a right of way to 303b Otumoetai Rd.

  • Bedrooms: 2 x 2 bedroom
  • Bathrooms: 2
  • Car parking: 2
  • Floor area: 174m2
  • Land area: 880m2
  • Estate type: Freehold
  • Rental status: Currently rented for $540 and $550 p/w
  • Rental appraisal: $570 - $610 per unit per week (Written rental appraisal available to potential purchasers)
  • Rates: $3,705.40 (Tauranga DC) + $495.25 (BOP Regional council)

Otumoetai Primary School and other forms of schooling are a short walk away. Brookfield and Cherrywood Shopping Centres, New World are all an easy walk, and the CBD is a short drive or bus trip away

  • $879,000
  • Gross yield: Potential 7.1% GY at 879K purchase price
  • Rental appraisal: $570 - $610 per unit per week (Written rental appraisal available to potential purchasers)
  • Annual rates: $3,705.40 (Tauranga DC) + $495.25 (BOP Regional council)
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Maree Tassell

Maree Tassell
Licensed Agent - REAA 2008

027 486 6146