Fringes on the next "Wellywood" suburb

16B Macky Street, Taita, Lower Hutt - $435,400

Want to be part of the next "Wellywood" suburb and potentially add value?


Highlights:

Property Features: 2 Storey / 3 bedroom / Potential

  • Price: $435,400
  • Gross Yield: Potential 7.2%
  • Capital Value: $350,000
  • Rental Status: $360 p/w
  • Rent Appraisal: $525 - $560 p/w (as is)
    $600 - $625 p/w (4th bedroom added)
    Written Appraisal available to potential purchaser
  • Annual Rates: $2,473
  • Estate Type: Freehold
  • Floor Area: 120 m2
  • Land Area: 300 m2

Are we close?

If this property is not quite what you are looking for, contact the agent today to discuss finding a property directly for you.

About the Property

There is a great opportunity here.

  • 3 bedrooms
  • 1.5 bathrooms
  • Stand-alone
  • 2 Storey
  • Freehold title
  • Insulated
  • Woodburner
  • Tidy kitchen
  • Lovely, Ex-state house - weatherboard exterior.

    The owners used to live here as their first home and have cared well for it over many years.

    Currently under rented at $360 p/w - with a Gross Yield of 4.3%.

    New rental appraisal of $525 - $560 p/w as is, lifts Gross Yield to 6.6%.

    PLAN - Reconfigure the large laundry and small toilet area into small 4th bedroom and rental appraisal lifts to $600 - $625 p/w making it a Gross Yield of 7.2%, including the $13,000 estimate to do this.

    Small section - 300m2 but this helps keep it a low maintenance rental as there is hardly any lawns to do.

    We will only have this under offer for this price for a very short time, otherwise the owners will take it to market and it will sell to a first home buyer or investor for likely high $400,000's.

    I have just sold one myself nearby in Taita - a 4 bedroom, 2 bathroom - for $526,000 last week, so I know this pricing is HOT.

    If you are pre-approved, ready to move quickly and would like to invest very near to where the next "Wellywood" studio is going to be, please let me know asap. (Avalon Studios is very nearby, and James Cameron has leased for 5 years to make Avatar sequels)

    Amenities

    Close to schools, shops and transport

    QV Property Report 16B Macky Street Taita Lower Hutt 5011.pdf

iFindProperty Kelly Lowe

Kelly Lowe
Licensed Salesperson - REAA 2008

kelly@ifindproperty.co.nz
027 518 2448

Contact us about this property

Agent Contact Details

iFindProperty Kelly Lowe

Kelly Lowe
Licensed Salesperson - REAA 2008

kelly@ifindproperty.co.nz
027 518 2448

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Kelly has been fundamental in the process of locating, negotiating and closing on my first investment property. It could not have been easier!

Near-daily updates and the perspective of an experienced property investor and former property manager both put me at ease with the entire process, bearing in mind that I was several thousand miles (and numerous time zones) away and also has ended up with me having a great investment that I hope to grow into many more.

But, it doesn’t stop there, Kelly also project managed the renovations to get the property up to scratch and ready to rent. Again, perfect communication made the entire process super easy and as an experienced investor herself she was able to save me a lot of money by negotiating with local contractors on my behalf. I can’t wait to crack on with number two and hope to be able to use Kelly’s experience and connections again."