[SOLD] Dual Income on Separate Titles, Cashflow Positive

253A & 253B Clayton Road, Pukehangi, Rotorua - $400,000

Check out these great investments; 2 x three bedroom properties on separate titles. Enjoy the cash flow positive income or tidy up exterior and sell separately and create equity.


Highlights:

Property Features: 2 x 3 Bedroom Homes

  • Price: $400,000
  • Gross Yield: Potential 7.7%
  • Capital Value: $232,000
  • Rental Status: $460 p/w
  • Rent Appraisal: $640 - $650 p/w Verbal Appraisal - TBC in writing
  • Annual Rates: $4,259
  • Estate Type: Crosslease (Freehold)
  • Floor Area: 190m2 (Total)
  • Land Area: 966m2

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Additional Information

Cash flow positive by about $8,000 pa after paying an 100% interest only loan at 5% pa, rates and insurance. Plus equity of approximately $65,000 if the homes were sold off individually. Where can you buy three bedroom homes in good condition for $218k each?

2 x three bedroom properties on separate titles. Enjoy the cash flow positive income or tidy up exterior and sell separately and create equity.

# 253A; Tidy 1960's home of 100m2 well constructed house in brick with tiled roof.

After accessing the front door you will enter the hallway: to the right are three double bedrooms, bathroom and toilet. To the left is the lounge; a spacious and carpeted area with heat pump for those chilly nights. This opens on to the combined kitchen/dining area which is bright and sunny and includes a formica bench top, stainless steel sink with tiled splash back, Fisher & Paykel oven, pantry and original cupboards (one draw will need replacing) and tidy vinyl flooring. From the kitchen area is the back door where you can access the separate laundry with stainless steel tub.

Of the three double bedrooms, two have wooden flooring, and all are well painted and with good drapes. The bathroom includes bath/shower, vanity and separate toilet.

A private area at the side of the property keeps this separate from the rear dwelling. This house is tidy with nothing major to do.

# 253B: The rear dwelling is of board and batten with iron roof. It is deceiving from the outside and looks totally unkempt ... all it needs is a chemical wash that would transform this property, as inside is sunny, modern, with a very spacious open-plan layout.

Access via the laundry area into the home. To the right of the laundry is an open plan lounge/dining and kitchen. The hard-wearing kitchen has wooden lined walls and flooring, with light coloured bench area, stainless steel bench/sink and cream cupboards with pantry.

The lounge is bright, open and sunny with a heat pump for those cold winters nights. An aluminium ranch slider opens out onto a decked area for those sunny summery days and BBQ's. The decking may need a little bit of maintenance and a paint to freshen this area up. Off the lounge to one side are two bedrooms; one single and the other double. On the other side of lounge is a large bright sunny double bedroom with ranch slider access out on to the decked area.

The laundry has a stainless steel tub and off this area is a modern bathroom with glass shower, new vanity and a semi separate toilet. The bathroom door will need replacing as there is a hole that's been patched up, but otherwise is very tidy.

This is a private property that doesn't intrude on the home in the front, as living is facing to the rear of the property, and they are separated with the large area for parking in between.

Adding some covered car parking, renovating the driveway and adding a front fence would add value and enable rents to increase.

Amenities

Great access to the city, on the main arterial route to town and on the city ride bus route. Close to all levels of schooling and zoned for Western Heights High School - Rotorua's only zoned High School.

QV Property Report 253A Clayton Road Pukehangi Rotorua.pdf

QV Property Report 253B Clayton Road Pukehangi Rotorua.pdf

Rates File 253A Clayton Road Pukehangi Rotorua.pdf

Rates File 253B Clayton Road Pukehangi Rotorua.pdf

Rent Appraisal 253 Clayton Road Pukehangi Rotorua.pdf

Debbie Van Den Broek
Licensed Salesperson - REAA 2008

debbie@ifindproperty.co.nz
021 131 6119

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Agent Contact Details

Debbie Van Den Broek
Licensed Salesperson - REAA 2008

debbie@ifindproperty.co.nz
021 131 6119

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."