[SOLD] Dual Income on big section - Potential Plus

708 Te Ngae Road, Owhata, Rotorua - $311,627

Dual income property on a large site with possible potential to add another income stream.


Highlights:

Property Features: 2 x 2br 1ba

  • Price: $311,627
  • Gross Yield: 8.3%
  • Capital Value: $226,000
  • Rental Status: $380p/w
  • Rent Appraisal: $480-$500p/w
    Verbal Appraisal - TBC in writing
  • Annual Rates: $4,117
  • Estate Type: Freehold
  • Floor Area: 160m2
  • Land Area: 1011m2

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Additional Information

Two 2 bedroom units on one title, with a huge flat backyard that you could potentially add another dwelling and increase your yield (subject to council consent). We have a letter from the council as to what is allowed on this site.

Constructed of fibre cement, wooden joinery and a corrugated iron roof. Both are in a very tidy condition with a well painted exterior and good street appeal.

Access to either unit is via a door beside the garage roller door through the large garages, with both units divided by a concrete block firewall so that makes each unit soundproof from the other. On those wintery wet days, your tenants will have undercover internal access to the interior.

Upon entry, there is an open plan with the kitchen on one side, and lounge/dining to your right with a lovely wood burner that's all compliant at the rear of the room, making it cosy dry and warm for your tenants on those cold wintery nights. The tenants say these fires heat the entire house . Both have been living there for 3 years and are immaculate tenants.

The kitchen is original but extremely tidy with stainless steel sink, Formica bench, a pantry and good oven. The lino is in good condition, in both units.

From the lounge is a small hallway with the first room your bathroom/laundry with a back door for external access to the rear of the property.

Unit A has a tub instead of a vanity in the bathroom and a shower over the bath. Unit B The bath has a shower above it and the bath along with vanity and are in good condition.

There is a separate toilet area which is also in good condition along with good lino (Unit A does not have a lid to the toilet).

At the end of the hallway, there are two double bedrooms both set to catch the morning sun, both have wardrobes. Unit B's bedrooms look out onto the large backyard and rural land. Lake Rotorua can be seen from the back of the property.

The carpet is in good condition in most places, there is one wear mark in Unit A and Unit B would require one bedroom to have its carpet replaced due to sun damage.

Both these units are well presented, have a lovely outlook and would be easy to rent. The added bonus is the huge amount of spare land that could accommodate an additional dwelling of up to 72m2 (subject to council consent).

This could be a great investment for your future.

Amenities

Handy to Rotorua airport and Eastgate Business Park

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."