3 Houses/ 1 Title: 8.5% Gross Yield

Description

Introducing 610 Te Ngae Road, Owhata - three homes on one large spacious title. These are not your "average" investment stock; the dwellings have been recently renovated including new kitchens and bathrooms and are finished in low maintenance materials. Inside each dwelling, you will find heat pumps - all houses are Healthy Homes compliant.

The front dwelling consists of three bedrooms (one up, two down) as well as a sunny mezzanine area with lake views, perfect for an office space. There is also a small garage with internal access and off-road parking. Entrance to this dwelling is fenced and private.

The two rear two bedroom units both have large, fenced back yards and are similarly renovated to a high standard. But wait, there's more...the living areas open onto a rear deck which has the bonus of access to a double gazed outdoor cabin.

A triple carport, and two off-street parking spaces ensure that parking is never an issue.

Located conveniently close to the lake, airport, and even the ever-popular McDonald's. All forms of schooling are in walking distance (2km or less).

The units have been vacated for easy inspection while on the market, however they have a very good rental history. Until recently they were rented for $540 (front house) + $500 for each back unit. Current rental appraisals range from $1640 p/w - $1690 p/w ($85,280+ p/a. At the asking price this equates to a 8.5% - 8.8% gross yield. Rental appraisals can be provided to potential purchasers. We also have available council files and a LIM to assist purchasers with their due diligence.

PROPERTY DETAILS
  • Bedrooms: 7 + 2 outdoor cabins
  • Bathrooms: 3
  • Car parking: 1 garage, 3x carport + offroad parking
  • Floor area: 
  • Land area: 1391m2
  • Estate type: Freehold
  • Rental status: Currently vacant to allow easy viewing. Very good rental history.
  • Rental appraisal:Front house $560 - $590p/w
    Rear units $540- $550 p/w (Written rental appraisal available to potential purchasers)
  • Rates: $6,363.64 RDC + $1,136.03 BOPRC
LOCATION
  • $997,000 ono
  • Gross yield: 8.8% potential
  • Rental appraisal: Front house $560 - $590p/w Rear units $540- $550 p/w (Written rental appraisal available to potential purchasers)
  • Annual rates: $6,363.64 RDC + $1,136.03 BOPRC
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ABOUT THE AGENT
Maree Tassell

Maree Tassell
Licensed Agent - REAA 2008

maree@ifindproperty.co.nz
027 486 6146