Currently yielding over 7% gross, rented for $1,000 per week (including power & water) to Housing New Zealand as temporary accommodation for its tenants who are on a fixed term tenancy until April 2020.
There is a Property Manager in place who manages not only any communication with HNZ but also but also regular cleaning and maintenance paid by the tenant, making this a hassle free investment.
The tenants are happy to continue, so this is a great opportunity to reap solid cash flow.
Such high yield properties are hard to come by especially in Auckland!
Note - the actual market rent of this property is less than what is being achieved currently and in a likely event of when HNZ doesn't have tenants in the property, rent is paid at market rate during the vacancy period.
Estate type: Freehold
Rental status: $1,000 p/w (includes power + water)
Land area: 701m2
Car parking: 2
Easy access to all the amenities and facilities Papakura has to offer, with rail, bus and motorway links minutes away.