84 Ranolf Street, Victoria, Rotorua

Description

Amazing opportunity to own a multi income property so close to the Central Business District, that has both equity and a great yield. Yields like this are usually only found in Fordlands, not the CBD, so act quickly as a deal like this won't last.

Positioned just around the corner from Rotorua Central Mall, and an easy walk to Rotorua hospital.

Four low maintenance one bedroom units all on their own separate cross lease titles, with a registered valuation of $745,000 and rating valuation of $762,000. Instant equity of at least $50,000.

Constructed in concrete block with some vertical panelling, aluminium joinery and a corrugated iron roof. The exterior is well maintained and is in good condition set on a compact easy care flat section with the added bonus of off street parking for the tenants cars.

Each unit is identical and all warm and tidy. The tenants enjoy living here and would love to stay on. These units are currently under rented and there is a severe shortage of rentals in Rotorua.

The units are accessed via the back door into the kitchen area. There is a full kitchen in each unit with plenty of cupboard space complete with a stainless steel bench top. The kitchen opens on to the lounge with a servery between the two areas. All the units have neutral decor throughout and the carpets are all in reasonable condition and appear to be new in units 2 & 4.

There is a double bedroom off the lounge.

To the side of the back door is a laundry/bathroom area, complete with a shower cubicle that has formica walls and stainless steel shower tray. There is a separate toilet.

The units are warm & cosy with a heat pump installed in each and no insulation costs required as each unit has a concrete floor and no accessible ceiling space.

There are numerous opportunities as each unit is on its own separate title, this means that you can gradually downsize at a later date to first home buyers or people wanting to downsize. Alternately modernise and furnish a unit and put it into the short term Airbnb market. With Rotorua being a popular destination for tourists, accommodation is highly sought after. A typical room rate for this type of accommodation is $200/night and there are tourists visiting year round.

Multi income units close to CBD are in hot demand - stable tenants, multi income, equity and yield this is an amazing opportunity!

PROPERTY DETAILS
  • Estate type: Crosslease (Freehold)
  • Rental status: $775 p/w (currently under-rented)
  • Rental appraisal:$240 - $250 p/w per unit
    Total - $960 - $1,000p/w
    Written Appraisal Available to potential purchasers
  • Floor area: 160m2
  • Land area: 4/10 of 1011m2
  • Bedrooms: 4
  • Bathrooms: 4
  • Car parking: 4
  • Rates: $9,838
AMENITIES

CENTRAL, central, central! Easy walk to Central Mall, shopping centre, Eat Street, Rotorua lakefront as well as hospital.

LOCATION
  • $636,000
  • Gross yield: Potential 7.4%
  • Rental appraisal: $240 - $250 p/w per unit Total - $960 - $1,000p/w Written Appraisal Available to potential purchasers
  • Annual rates: $9,838
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ABOUT THE AGENT

Debbie Van Den Broek
Licensed Salesperson - REAA 2008

debbie@ifindproperty.co.nz
021 131 6119