Home & Income in Great Rotorua Location

Description

Located in a good area fairly close to town and multiple schools, with great road appeal and established gardens.

The main house is constructed of a mixture of brick and weatherboard with an iron roof. It's very spacious at 120m2 for a three bedroom home. It's not hard to imagine converting this to a 4 bedroom/ 2 bathroom property.

Inside all three bedrooms are double. One of these is huge and the large wardrobe could also easily accommodate an ensuite. There is a large open plan kitchen/dining/living area with great natural light and a large heatpump. Gas heating, cooking and hot water. The kitchen has a dishwasher.

Good indoor-outdoor flow from the dining area and master bedroom to outdoor decking and patios, and at the rear of the house is a covered double carport which connects to the house.

The primary tenant has been there 7 years and want to stay. He initially lived in the rear unit and more recently has moved to the front with one other flatmate.

Further back on the section and completely separate from the main house is a two bedroom unit one bathroom with a attached carport. This is a legally consented separate dwelling and the council records record the site as a "residential home and income".

As can be seen with the drone footage of this property, the neighbouring property has recently had a full sized house developed on the rear of the section. Opportunity here to remove the 2 bedroom unit and either subdivide or build a larger dwelling. This may allow some tax benefits with new builds still being able to claim the interest as an expense.

This tenant too is very tidy and an asset for any landlord. There is heat pump and both properties have had recent Healthy Homes assessments. The rear unit requires some draft-stopping to be done which will be completed before settlement.

Despite both houses being "compliant", the rear unit does has dampness issues in the rear two bedrooms which will require addressing.

PROPERTY DETAILS
  • Estate type: Freehold
  • Rental status: Both currently rented:
  • Rental appraisal:Front house:$490 p/w
    Rear unit:$380 p/w
    $880 p/w combined Written rental appraisal available to potential purchasers
  • Floor area: 170m2
  • Land area: 1221m2
  • Bedrooms: "3+ 2" for a home and income,
  • Bathrooms: "1+ 1" for a home and income,
  • Car parking: 2
  • Rates: $4,480.03 p.a
AMENITIES

Just across the road from this property is a large park which provides an attractive outlook as well as plenty of space for children to play. All forms of schooling are in walking distance and the CBD is only 5 mins drive away.

LOCATION
  • $770,000
  • Gross yield: 5.9%
  • Rental appraisal: Front house:$490 p/w Rear unit:$380 p/w $880 p/w combined

  • Written rental appraisal available to potential purchasers
  • Annual rates: $4,480.03 p.a
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ABOUT THE AGENT
Maree Tassell

Maree Tassell
Licensed Agent - REAA 2008

maree@ifindproperty.co.nz
027 486 6146