[SOLD] Not a TYPO 'B' grade area - Potential 10+ %GY

36 Kahu Street, Utuhina, Rotorua - $379,145

Potential Plus, with just a little bit of love and attention this can only be a win win.


Highlights:

Property Features: 4br Home + 1br Unit + Bedsit

  • Price: $379,145
  • Gross Yield: 10.08%
  • Capital Value: $324,000
  • Rental Status: Vacant Possession
  • Rent Appraisal: Unit A: $160-180p/w
    Unit B: $170-190p/w
    Unit C: $350-365p/w
    Verbal (TBC in writing)
  • Annual Rates: $3,703
  • Estate Type: Freehold
  • Floor Area: 253m2
  • Land Area: 1260m2

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Additional Information

Solidly built two storey property with concrete block down stairs and weatherboard upstairs, so easy maintenance. Two of the three tenants have lived there for many years so the rent is very low, even with no work the rents should be much higher.

Unit C: Four bedroom home in good condition with use of a large garage downstairs.

Wooden stairs (in need of minimal repair) lead you to the upstairs home with a sunny deck that runs along the length of the property. Both the lounge and master bedroom access the deck via a ranch sliding door.

The lounge is large and appears to have good carpets and paintwork, the dining area is separate and carpeted as well.

The kitchen is large and original with plenty of cupboard space and a good stainless steel bench top and good Formica preparation areas. The pantry is missing one door, the room is well painted but could do with a freshen up.

An aqua coloured bath welcomes you into the bathroom that blends with the vanity bench which also is in good condition just a little paint ie: a funky colour will brighten this area up. The shower is enormous and the stainless steel base is in good condition but the walls are ready to be relined, there is a separate toilet area.

The four double bedrooms are bright with plenty of windows, one with a door that opens onto a deck. All the bedrooms have wardrobes except one.

From upstairs there are extensive views of the surrounding area.

Downstairs there are two units:

Unit A ( One bedroom block unit )

Walk into an open plan lounge and small kitchenette with a separate double bedroom. The bathroom has a large shower, toilet and wall hung basin. This unit could do with a paint and the kitchen refurbished with a new set of cupboards and bench top. The tenant has lived there for 8 years (could be a smoker) so it's a little tired. The interior walls are concrete block so if these walls were strapped and gib lined this would bring warmth and a more homely feel.

Unit B (bedsit)

Large open planned bedsit with kitchenette -separate shower, toilet, vanity ( again shower wall could do with being relined ) This unit also is a little tired and strapping the walls with gib will also give it a warm modern feel, along with a little bit of lino on the kitchen floor, a new bench top and cabinet and a paint.

The carpets throughout the whole property are in good condition and maybe just a steam clean will brighten them up, along with the curtains.

Lastly is the garage which has plenty of windows and a glass door at the back that takes you out to the front yard, this in time maybe also turned into another bedsit once lined and insulated (subject to council consent).

The addition of heating in each home is a must for a responsible landlord with winter coming up.

This two story house is set well back off the road down a long driveway and sits in the middle of a large curved tree lined property that is private and tranquil.

Don't delay because this one won't last.

Amenities

Situated right next door is John Paul College Rotorua's Premier High School. Malfroy School and Rotorua intermediate are also not far away making this property popular with families and people who work at the school.

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."