Current Cash Flow 7%

Description

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.

PROPERTY DETAILS
  • Estate type: Freehold
  • Rental status: $1,000 p/w (includes power + water)
  • Rental appraisal:
  • Floor area: 
  • Land area: 701m2
  • Bedrooms: 3
  • Bathrooms: 1
  • Car parking: 2
  • Rates: TBC
AMENITIES

Easy access to all the amenities and facilities Papakura has to offer, with rail, bus and motorway links minutes away.

LOCATION
  • $670,000
  • Gross yield: 7.7%
  • Annual rates: TBC
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ABOUT THE AGENT

Kunal Mehta

Property Investment Specialist