Description
2 homes on 2 titles – 7.63% Gross Yield with upside.
Here is one of those opportunities that is worth a second look! We have secured 2 houses on 2 titles in Stokes Valley, Lower Hutt. These are semi detached on a Fee simple title and are cross leased with each other.
This corner section is located in a great location in Stokes Valley (Suburb of Lower Hutt) and provides the following highlights:
52a Kingsley Street
• 3 bedrooms and 1 bathroom.
• Fixed-term tenancy to 31 December 2026.
• Current rent $585 per week (under rented). Appraisal goes to $635.
52b Kingsley Street
• 4 Bedrooms and 1 bathroom.
• Long-term tenant on periodic tenancy.
• Current rent $760 per week.
• Could benefit from some cosmetic upkeep.
These represent a weekly rent roll of $1,345 or $69,940 per annum. At the fixed price (including our fee) of $917,000, this is positive cashflow from day 1.
July 2025 Registered Valuation provided showing a combined value of $940,000.
Upside includes increasing rent to market at 52a Kingsley and a cosmetic renovation at 52b Kingsley.
There is also spare flat land at the back of 52b, where you could potentially add another dwelling or unit. This will need further investigation and council approval.
Contact Peter today for more information or to arrange a viewing.