Description

Silverstream is one of the best suburbs in Upper Hutt - mostly high end homes, decile 9 primary schooling, top secondary schooling and one of the best supermarkets in the country.

• 2x2 concrete brick units (unusual to have units in this family-home orientated suburb)
• One title
• 1 is very tidy, 1 could do with a minor, interior, cosmetic tidy up
• Decramastic roof of both units could do with some minor work and a recoat
• Both have heatpumps installed

Long-term plan would be to turn into 2 x 3 bedrooms in each by changing current dining room to 3rd bedroom. This would create $6,000 cashflow PA on 100% borrowing (with an interest only loan). We can assist in managing this any renovation work for the purchaser if required.

Numbers:

• PP $670,700 (including IFP buyers agency fee)
• Reno to create 3rd bedroom in both units and cosmetic tidy up of flat B and roof repairs approximate cost. $19,000 (quotes to confirm this are coming)
• Rental Appraisal given as 2 x 3 beds at $470-$510 p/w
• Total spend $690,000
• GY at total $1000 rental income per week 7.5%
• If you decide to do nothing in the short term then Rental Appraisal as is 2 x 2 beds at $410- $430 p/w
• Total Spend $670,700
• GY at total $860 p/w rental income per week 6.5%

Potential Bonus - you may be able to subdivide into two separate titles - Subject to council approval.

Multi-income opportunities in superior locations like this do not come up very often. These are the ones you will want to hold on to for a long time, enjoy the income and the long term gain that is likely here due to the premium location.

Contact Kelly right now, to register your interest.

LOCATION