[SOLD] Step onto the Ladder. Cashflow, Good yield, Great deal!

12/781 Fergusson Drive, Elderslea, Upper Hutt - $236,948

Great starter option. Perfect set and forget option. Didn't think you could buy anything in the hot Hutt Valley region for under $250,000?

If you are looking for cashflow, low maintenance, great location, check out this 2 bedroom unit in central Upper Hutt.


Highlights:

Property Features: 2 br / 1 ba / 2 storey / block of 12

  • Price: $236,948
  • Gross Yield: Potential 7.6 %
  • Capital Value: $137,000
  • Rental Status: Owner Occupied
  • Rent Appraisal: $350 p/w
    Written Appraisal available to potential purchasers
  • Annual Rates: $1,452
  • Estate Type: Crosslease (Freehold)
  • Floor Area: 70 sqm
  • Land Area: 1/12 share in 1516m2

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

This is a 2 bedroom, 1 bathroom, 2 storey unit in a complex of 12 in central Upper Hutt.

Walking distance to nearly everything a city has to offer will make this a very attractive option for tenants.

Bedrooms and bathroom are upstairs and all the living areas are downstairs. Concrete Block construction means noise is minimal, and it is easy maintenance. It has a cross lease title so there is no Body Corporate fees to pay, or Body Corporate rules to abide by.

Comes with a dedicated parking space right by the door, a shed for storage and a small outside area which is easy for tenants to maintain.

It is tidy as is, but you could add value with some cleaning, paint, new flooring, kitchen and bathroom upgrades as and when you are ready, to increase rent even more.

To complete all of these renovations you would be looking at $15,000 - $17,000, increasing rent by up to $40 per week and increasing your valuation at the same time.

  • Purchase price $236,948
  • Deposit $10,000
  • Rental Appraisal $350 per week
  • Potential Gross Yield 7.6%
  • Rates $1,452
  • Cashflow positive on P and I loan even at 8% interest (with a 35% deposit)
  • Growth area - Upper Hutt values are up over 11 % since last year
  • Settlement - 8 weeks after unconditional date
  • Contact Kelly quickly to register your interest for this fantastic investment.

    Viewing by appointment only.

    Amenities

    Walking distance to bus, trains, schools, shopping, supermarkets, medical centres.

    QV Property Report 12 781 Fergusson Drive Elderslea Upper Hutt 5018.pdf

    Rates File 12 781 Fergusson Drive.pdf

iFindProperty Kelly Lowe

Kelly Lowe
Licensed Salesperson - REAA 2008

kelly@ifindproperty.co.nz
027 518 2448

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Agent Contact Details

iFindProperty Kelly Lowe

Kelly Lowe
Licensed Salesperson - REAA 2008

kelly@ifindproperty.co.nz
027 518 2448

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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."