[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.
About the Property
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.
Walking distance to bus, trains, schools, shopping, supermarkets, medical centres.
Licensed Salesperson - REAA 2008
027 518 2448