[SOLD] Investment Gem, Potential 8.9% Gross Yield, Tidy and Close to the Redwoods

68A Sala Street, Whakarewarewa, Rotorua - $160,350

Help our Rotorua housing shortage with this easy care property with almost 9% gross yield. ..and room to add value.


Highlights:

  • Price: $160,350
  • Gross Yield: Potential 8.9%
  • Capital Value: $108,000
  • Rental Status: $220 p/w
  • Rent Appraisal: $260 - $275 p/w
    Verbal Appraisal - TBC in writing
  • Annual Rates: $2,045
  • Estate Type: Crosslease (Freehold)
  • Floor Area: 84m2
  • Land Area: 1/2 interest 1661m2

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Additional Information

A solidly constructed group style home will make a great little rental, with three good sized bedrooms; two double and one single along with a decent sized living area with a range slider opening on to a wooden deck. The modern kitchen has a beautiful bay window that overlooks the raised garden that would be great for planting the vegetables. The cabinetry is deep blue and the stove is modern.

The interior is in good condition painted throughout with good carpets however the hallway needs a little bit of repair.

Some improvements to the interior could be completed for a minimal cost as there is a complete lack of lamp shades and the curtains are sparse and barely cover the windows.

The bathroom could also benefit from a makeover; currently the shower has mouldy Formica walls and the vanity is old and tired ... this really lets the house down!

The exterior is fibrolite with aluminium joinery, and is well painted in a modern colour with a corrugated iron roof.

The section is large and there is the capacity to perhaps utilise the land more effectively; maybe a minor dwelling (subject to council consent).

Currently there is a single carport for your tenant to protect their car but plenty of room to add that double garage. The driveway is unsealed but the appeal of the house would be improved with a concrete driveway. We can help you obtain quotes for this to be completed.

This property is set well back from the road down a driveway so offers increased safety for tenants children and pets. There is potential to increase rent by providing a garage, or to improve property value with the addition of a paved driveway. With such a large section the addition of a minor dwelling may also be a possibility. Rotorua Council is the first council in NZ to eliminate Development Levies, so development of this type in Rotorua is very cost effective.

Amenities

This home is across the road from the beautiful Redwood Forest, Scion Crown Research Institute and nearby Whakarewarewa Thermal Village.

It is just over a 1km flat walk to Waiariki Polytechnic, and less than 0.5kms from several day care centres and the bus route in nearby Fenton Park.

Rates File 68A Sala Street, Whakarewarewa, 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."