Cashflow & Stability in Tokoroa with Potential to Increase Rent

Description

This property consists of a flat and fenced section. The dwelling itself is a 2 bedroom flat at the front, with its own driveway, carport and fenced area. The rear flat consists of a 4 bedroom flat with its own driveway and carport and large fenced area. The flats are made from concrete block, so are very solid. Aluminium joinery ensures that maintenance is kept low.

Great news is that the interior and exterior condition appears to be good, however there is always room for a spruce up. This in turn will assist in raising rents.

The front flat could benefit from heating being installed as well as a cosmetic spruce up.

The rear flat has a modern heat pump fitted. It has been recently modernised and is quite spacious. The configuration looks as though this has been 2 x 2 bedroom flats that have been made into one large 4 bedroom flat.

Fergusson Street is a quiet street that borders a nice reserve, fresh water stream and has the large and popular YMCA nearby. There is a rural aspect and a new subdivision nearby.

PROPERTY DETAILS
  • Estate type: Freehold
  • Rental status: $140 p/w (2 Bedroom Flat)
    $170 p/w (4 Bedroom Flat)
    TOTAL: $310 p/w
  • Rental appraisal:$170 p/w (2 Bedroom Flat)
    $210 p/w (4 Bedroom Flat)
    TOTAL: $380 p/w
  • Floor area: 190m2
  • Land area: 809m2
  • Bedrooms:
  • Bathrooms: 
  • Car parking:
  • Rates: $3,229 p/a (District & Regional Rates)
AMENITIES

50m to kindergarten, 100m to reserve, 280m to primary school, 780m to intermediate and high school, 860m to medical centre, 760m to shops, 1.8km to CBD

LOCATION
  • $185,000
  • Gross yield: 8.8% with potential of 10.6%
  • Rental appraisal: $170 p/w (2 Bedroom Flat) $210 p/w (4 Bedroom Flat) TOTAL: $380 p/w
  • Annual rates: $3,229 p/a (District & Regional Rates)
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ABOUT THE AGENT

Wayne Dickson

Licensed Salesperson
REAA 2008

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027 200 2556