[SOLD] A Rotorua Winner
20 Huia Street, Hillcrest, Rotorua - $343,340
Are you looking for a solid investment in a good location at a bargain price?
Do you want instant equity?
Do you want a large section with potential to add another dwelling?
Do you want a property that has been well maintained (including a brand new roof)?
If you want these things then 20 Huia Street in Hillcrest Rotorua absolutely ticks all the boxes.
About the Property
This property sits in an established suburb where the majority of homes are owner-occupied.
The 817m2 freehold section is flat and well oriented for all day sun. The back yard is currently in grass with fruit trees, a vegetable garden and storage sheds. There is potential for a subsidiary dwelling to be added if the existing garage was moved to the front of the section from the side subject to council approval.
The house has four double bedrooms and spacious living areas with beautiful tawa floors. There is a compliant fire that was installed in 2013 and a recently installed hot water cylinder. A new roof was added in 2017.
Hillcrest is very popular with families with school age children and those wanting to be in a quiet area but still close to the city. For this reason rental properties in the area are highly sought after and command above average rents.
The property is on the market below its rateable value. A registered valuation can be arranged but the indication we have is the current value is $380,000 with similar properties in the area fetching over $400,000.
This property really ticks all the boxes for a super safe investment that is cashflow positive (yield over 6%), provides instant equity and will attract excellent tenants. It should also deliver excellent capital gains as the location is very desirable.
Within walking distance of all levels of schooling including Glenholme School, Rotorua Girls High and John Paul College.
Close to Smallbone Park, the International Stadium and Rotorua Tennis Club.
Only five minutes from the city centre.