[SOLD] Kapiti Coast Multi Income with 8%+ Cashflow
70 Toi Street, Otaki Beach, Otaki - $355,000
Here is a great opportunity to secure a multi income property close to Otaki Beach on the beautiful Kapiti Coast.
Currently configured as a 2 bedroom unit alongside a 3 bedroom unit, this property is cashflow positive from day one.
Here are the numbers:
- Purchase price $355,000
- Front flat $260 p/w (includes $3 per week from tenant for water usage)
- Back Flat is currently advertised at $315 p/w (includes $3 per week from tenant for water usage)
- This will return a very healthy 8.4% Gross Yield
- Rates = $2,766.15
- Water Supply charges = $199 per annum
- Insurance = $1,869.60 (Current annual)
This multi-unit property is currently under property management at 8% + GST so would be an easy passive investment. It is suitable to rent as is but also some upside to increase yield even further with some improvements.
With the new motorway scheduled to start work soon, this means even better demand and access for this popular Kapiti Coast location.
We also need to disclose to you that the seller of this property is related to the listing agent and any potential purchaser will be provided with a Section 136 Disclosure form as per the REAA requirements.
If you are cashed up, ready to go and after a cashflow property, then you better contact Peter quickly.
LIM and 2014 Builders Report available to potential purchasers.
Short walk to Otaki Beach
Close to shops, transport and schools
Licensed Salesperson - REAA 2008
021 225 5753