Central City Opportunity

Units 4/6/7 - 44 Malfroy Road, Victoria, Rotorua - $650,240

Three central city units, renovated, with great tenants & exceptional yield for the area.


Highlights:

Property Features: Multiple income / Centrally located

  • Price: $650,240
  • Gross Yield: Potential 7.7%
  • Capital Value: $606,000
  • Rental Status: $260 p/w - Unit 4
    $300 p/w - Unit 6
    $260 p/w - Unit 7
    TOTAL: $820 p/w
  • Rent Appraisal: $300 - $325 p/w each
    TOTAL: $900 - $975 p/w
    Written Appraisal available to potential purchasers
  • Annual Rates: $7,465
  • Estate Type: Crosslease (Freehold)
  • Floor Area: 180sqm

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.

About the Property

Three central city units, which have all been renovated and are part of a 9 unit complex.

All units are on their own title so can be bought or sold separately. Great for future-proofing your investment as you can sell to owners wanting to downsize and be within easy walking distance to Rotorua CBD.

The roof on the complex has just been replaced and the driveway has been resealed.

All of the units are spacious and offer two double bedrooms, open plan living / kitchen area and have had a shower upgrade with glass sided showers. They all have good tenants in place that keep their homes beautifully presented. All units come equipped with heatpumps (less than 6 months old) panel heaters in the bedrooms and have tiled bathroom & kitchen floors.

Each unit has its own carport and Units 4 & 6 have their own private courtyard.

Unit 4 - has new carpet that is less than 12 months old, kitchen cupboards would benefit from being replaced (approx cost $500) and has the original vanity which could also benefit from being replaced (replacement cost $500).

Unit 6 - has a brand new bench top, some of the kitchen cupboards would benefit from being replaced with new door fronts (approx cost $200). New carpet was installed less than 12 months ago.

Unit 7: Situated above Unit 4, this very sunny unit has good carpets, good kitchen and original vanity, which could benefit from being replaced (approx cost $500).

Units in this part of the city have been obtaining gross yields of only 6% on recent sales, so this level of yield with a potential of 7.7% is a blast from the past.

There is a body corporate fee for each unit of $1,976 pa. This cost covers all exterior maintenance including insurance, lawns, fences, gutter cleaning, roof repairs & driveway sealing.

These unit can be bought separately or together, talk through your options today with Debbie.

Amenities

Easy walk to CBD, local restaurants, Arawa Park & Fenton Street

Debbie Van Den Broek
Licensed Salesperson - REAA 2008

debbie@ifindproperty.co.nz
021 131 6119

Contact us about this property

Agent Contact Details

Debbie Van Den Broek
Licensed Salesperson - REAA 2008

debbie@ifindproperty.co.nz
021 131 6119

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Debbie has been wonderful to work with. She was professional, thorough and has an inside knowledge about the Rotorua market. On top of this she is willing to share her extensive knowledge with her clients as she is on the side of the investor."