[SOLD] 9.2% Gross Yield - Five Bedroom Home within Walking Distance to City

65 Tarewa Road, Rotorua City, Rotorua - $190,350

Great Tenant, Great Property manager, Amazing gross yield of 9.2%. What more can you ask for?

This large home close to the CBD that has had a complete interior makeover. A rare find with room to add value.


Highlights:

  • Price: $190,350
  • Gross Yield: 9.2%
  • Capital Value: $161,000
  • Rental Status: $340 p/w
  • Annual Rates: $2,217
  • Estate Type: Crosslease (Freehold)
  • Floor Area: 160m2
  • Land Area: 1/2 share 973m2

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Additional Information

Beautiful large five bedroom home only a short walk from the CBD will be the delight of tenants. Current tenant wants to stay and there is an excellent property manger looking after this home, so this is a set & forget investment.

An older style weatherboard home built in the 1940's. It has been well maintained over the years, the interior has had a complete makeover, the exterior is well painted but some minor maintenance is required at some stage.

With FIVE spacious double bedrooms this home is a rare find, so close to the city and showing such a high yield. Recently re-carpeted in a deep grey pattern throughout the entire home, this is a lovely rental. Neutrally coloured walls are painted however some rooms have wallpaper feature walls in varying colours. All five bedrooms are large and two have built in wardrobes, each room has curtains that are new and in good condition.

With a large open plan kitchen/dining and lounge area that opens onto a large wooden deck and sizeable fenced yard; this home is safe for children and offers privacy from the street. A wood burner keeps the house warm and cosy in winter (we need to double check it is compliant). The kitchen is modern with good quality benches and features plenty of cupboard space, pantry and a dishwasher with wood grain vinyl flooring.

The bathroom and laundry are combined in one area at the back of the house. The shower has plastic walls and a glass door and appears to be in good condition, although a bit of exit mould and a good scrub wouldn't go amiss! There is a wall hung vanity that is modern however at some stage the doors need replacing as they have some water damage.

The exterior is well painted however some window joinery is old and decayed, fitting new joinery would add value and complete the modernise of the home. There is currently only a large container being used as a shed, adding a garage would enable the rent to be increased by at least another $20 p/w. Adding a sealed driveway would also add value to this home.

The home appears to be a great rental, there is a small area by the hallway door where the floor is not level, so it may need an inspection by a builder to check the piles are OK. From what I can see they do appear to be concrete piles.

Plenty of scope to add value to this property and make the exterior mirror the beautiful interior, a great family home.

Amenities

A very short walk to CBD, Aquatic Centre, Rotorua Boys High School and with a day care centre next door and another around the corner, your tenants can ditch the car and walk to the shops.

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."