[SOLD] Great Yield with a Multi-Dwelling in Tauranga
4A Burns Street, Gate Pa, Tauranga - $679,907
Renovated home and income in the central Tauranga suburb of Gate Pa. With a 3 bedroom home and a 2 bedroom unit, this property will return strong cashflow.
About the Property
This property consists of a house upstairs with 3 bedrooms, a combined modern toilet/bathroom with a shower, a spacious kitchen/dining area and lounge.
Downstairs there is a 2 bedroom dwelling with its own private courtyard. It has a modern full kitchen, combined bathroom with laundry facilities and an open plan dining and lounge.
The property is renovated to a high standard inside. There is a single garage downstairs that would be suitable for storage and a double carport.
The property is in good condition and is ready to be rented. The rental appraisal for the upstairs 3 bedroom house is $480 - $510 p/w, and the downstairs 2 bedroom to rent for $350 - $375 p/w. So a combined potential rental income of $885 p/w, giving an excellent potential yield of $6.7%.
Burns Street is in an excellent rental location handy to the Gate Pa Shopping Mall and near to all levels of schooling and public transport. This is a quiet residential street with only local traffic. This rental will appeal to both families and students as Gate Pa is situated near to Toi Ohomai, BOP Polytechnic.
The Tauranga district's population is projected to grow roughly 40% between 2013 and 2033.
Tauranga is currently experiencing a rental shortage as demand outstrips supply with Tauranga widely tipped to continue to grow rapidly.
This property offers good yield and potential Capital Gains in the Tauranga market.
Gate Pa has a Shopping Mall, with a supermarket, gastro pub and several choices of eateries.
It has all levels of schooling, public transport links to Downtown Tauranga and Mt Maunganui and the BOP Toi Ohomai Polytechnic.
It is close to the hospital, with access to Doctors and Dentist.