If you thought positive cash flow from the get go AND a blue chip central city location property was pretty impossible to find, well, we found one.
This property offers positive cash flow, no work to be done and a stunning location complete with good tenants happy to stay on.
Up for grabs is a high yielding multi-unit 1930's house in four flats set amongst the hills of a top central suburb in Napier.
The main house is divided into 3 flats, a 1 bedroom and two 2 bedrooms, all insulated and tenanted, plus a 1 bedroom minor dwelling at the back also insulated and tenanted. A shared laundry, and off-street parking for 5 cars (yes, that’s FIVE parks in Bluff Hill, not a typo) complete the picture.
The current tenants resident since 2015 and happy to stay on are currently paying $950 p/w with further potential to increase to the current market appraisal of $1,090 p/w. You work out what a centrally located multi income stream property in one of the fastest appreciating cities in NZ is worth to you, and bring your offer quickly.
Flat 1 – downstairs basement flat, 1 bedroom, lounge, kitchen, shower, toilet. Current rent $190 p/w, market rent $200-$210 p/w.
Flat 2 – upstairs 2 bedrooms, lounge, kitchen bathroom toilet. Current rent $260 p/w, market rent $320 p/w.
Flat 3 - upstairs 2 bedrooms, combined kitchen/lounge, bathroom toilet. Current rent $270 p/w, market rent $300 p/w.
Flat 4 – separate minor dwelling, one bedroom, kitchen, bathroom, toilet. Current rent $230 p/w, market rent $265 p/w.
All flats are in good condition and from what we can see no immediate maintenance required. Of course we recommend a building inspection to verify this.
There are some scheduled viewings. if you are interested in going through the property then please contact Lauren today to register your interest.