Add Value Opportunity, Entry level Wellington Region, Great location

3/57 Ararino Street, Trentham, Upper Hutt - $314,185

2 bedroom unit, Location near Army Base in Trentham, Cosmetic renovation can enhance rental return.


Highlights:

Property Features: 2br / 1 ba / stucco, cross lease unit

  • Price: $314,185
  • Gross Yield: Potential 6.7% (Upper Hutt average 5.3% @ Dec 17)
  • Capital Value: $220,000
  • Registered Value: $355,000 post cosmetic reno of new kitchen, tidy up paint, tidy flooring (verbal)
  • Equity: $10,000 immediately, $20,000 post reno
  • Rental Status: Vacant
  • Rent Appraisal: $340 - $370 p/w (as is)
    $400 - $430 p/w (after cosmetic renovation)
    Written Appraisal available to potential purchasers
  • Annual Rates: $1,742
  • Estate Type: Crosslease (Freehold)
  • Floor Area: 80sqm
  • Land Area: 1/3 share in 966 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.

Additional Information

We have under offer, exclusively to iFindProperty, a 2 bedroom, classic 1960's stucco exterior, cross lease unit, in Trentham, Upper Hutt City.

This is a very good deal for a buy and hold investor to secure a classic 2 bedroom unit in a fabulous location, near the Trentham Army Base, and near buses and trains, and a 5 min drive from Central Upper City shopping and services. Tenant demand here will always be high.

Details:

  • Purchase Price $314,185 (includes the iFindProperty Fee)
  • 2 Bedroom, Stucco exterior, cross lease unit, 3 total units in the cross lease
  • Rent as is for up to $370 p/w
  • Tidy up by spending up to $20,000 on a cosmetic reno and rent will be up to $430 p/w (Written appraisals for rent and renovation pricing available)

By doing the renovation (Kelly can project manage if need be) the property will be cashflow neutral with zero money down for the first year and then cashflow positive from then on. You will have increased your equity in the property to a min $20,000 over what you have spent - i.e. it will be worth around $355,000 and all up you would have paid $335,000 including the renovation costs.

Upper Hutt is booming and there is a huge rental shortage as the population swells with professional people. Great long term capital gain here is inevitable, given the Wellington Regions continuing rise in demand and population growth, alongside limited land opportunities.

  • 2 large bedrooms
  • 1 bathroom with separate bath and shower
  • Electric heater
  • Off street parking
  • Good outside area with exclusive use and garden shed
  • 1960's character building
  • Cashflow neutral for the first year with zero money down (a great option in a strong growth market - no top ups needed)
  • High growth area

This deal is exclusive to iFindProperty investors and you do not have to compete with the open market to secure it. The price has been negotiated for you, taking away the stress of wondering if you are paying too much.

If you wish to view it will be by appointment only. Video link can be provided for those out of town.

Please contact Kelly on 027 518 2448 or kelly@ifindproperty.co.nz to register your interest for this property.

Amenities

Public Bus stop at gate

Trentham Train station less than 5 mins walk

Upper Hutt Central City 5 mins drive

Trentham Army base 2 mins drive, 6 mins walk

https://youtu.be/IZY8sh_tEp4

QV Property Report 3 57 Ararino Street Trentham Upper Hutt.pdf

Rates File 3 57 Ararino Street Trentham Upper Hutt.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

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."