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.
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.
- 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 email@example.com to register your interest for this property.
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
Licensed Salesperson - REAA 2008
027 518 2448