9%+ Potential Yield in Whanganui

60C Mosston Road, Castlecliff, Whanganui - $139,750

Spacious unit returning 8% with potential to achieve 9.3% GY. This unit backs on the Titoki St units also for sale which similarly are high yielding.


Highlights:

  • Price: $139,750
  • Gross Yield: Potential 9.3%
  • Capital Value: $66,000
  • Rental Status: Currently (under) rented at $215p/w (8% GY)
  • Rent Appraisal: $230 - $250 p/w
    Written Appraisal available to potential purchasers
  • Annual Rates: $1,915
  • Floor Area: 50m2
  • Land Area: 1/4 Share 1310m2

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About the Property

This spacious art deco type unit has been tastefully decorated in neutral colours.

It has an open plan style kitchen and living area which is north facing.

Stucco cladding, wooden windows (these need some maintenance)

Updated bathroom and floorings. Separate laundry off bathroom.

Off street parking in front of the unit.

We have been advised by the vendor that this property is fully insulated top and bottom - we would also recommend this be checked as part of due diligence.

This unit is adjoined to another similar unit (which is not currently for sale). It also backs onto 13a and 13b Titoki St which are also on the market, and there is a carport which is accessed via Titoki St.

Amenities

Situated just a 7 minute drive from the central city, this seaside community has experienced a sharp increase in property activity driven by both first home buyers and investors to the area.

Castlecliff is serviced with a great café and central hub around Rangiora St and down to the beach that has been revitalised by the Progress Castlecliff committee. A new 34ha subdivision has been approved on the outskirts of Castlecliff but won’t be available for up to seven years.

In February 2018, Regional Economic Development Minister Shane Jones announced $6 million from government's Provincial Growth Fund would go towards the revitalisation of the Whanganui Port and an upgrade of the Whanganui rail line. Both are based in Castlecliff.

Further development of the Mosston Rd area is being completed with the sealing of Mill Rd accessing commercial sites. The Fitzherbert extension, due to be started this financial year, will provide additional easy access to the Castlecliff area. The medical centre on Mill Rd is just a few years old.

Maree Tassell

Maree Tassell
Licensed Agent - REAA 2008

maree@ifindproperty.co.nz
027 486 6146

Contact us about this property

Agent Contact Details

Maree Tassell

Maree Tassell
Licensed Agent - REAA 2008

maree@ifindproperty.co.nz
027 486 6146

If you want someone who knows what they’re doing, can use a very professional yet friendly approach, then Maree is the one. I asked her to sell one of my rentals and she did so quickly, with no fuss and got an excellent price for me.

Rob Bialostocki

Maree has always shown a very high level of integrity, transparency and flexibility and I believe iFindProperty offers great value – not only do you get a great property deal but the additional advice, assistance and recommendations make her service outstanding. I highly recommend Maree to anyone looking to start off on the right track in property, be they first timers or seasoned investors.