[SOLD] Opportunity to Modernise in Lower Hutt

Churton Crescent, Taita, Lower Hutt - BEO $365,000

Solid do-up option with "good bones" and upside in a nice part of Taita in Lower Hutt.


Highlights:

Property Features: 4br 1ba + Sleepout

  • Price: BEO $365,000
  • Capital Value: $250,000
  • Rental Status: Owner Occupier
  • Rent Appraisal: $450 p/w
  • Annual Rates: $2120.00
  • Estate Type: Freehold
  • Floor Area: 110
  • Land Area: 544

About Wellington

New to Wellington property?

Read the Profile »

Are we close?

If this property is not quite what you are looking for, contact the agent today to discuss finding a property directly for you.

Additional Information

This 1940's era large family home, a stones throw from Fraser Park on the city end of Taita, presents a great opportunity for an investor to modernise over time a 4br property that is structurally sound and well laid out with the added bonus of a sleep-out attached to the garage.

Both the main house and the sleep out appear to be insulated and when we visited the property it was warm without the heat pump (included) running. The house has been lived in by the current owners for over 10 years and while rentable, has some deferred maintenance, most of which is not urgent.

Features:

- Roof: Concrete tiles

- Walls: plaster board with a plaster finish

- Bathroom: Shower is new, the bath is fine and could use a clean, new flooring (vinyl) recommended.

- Bedrooms: dated but rentable and warm, an opportunity to modernise over time.

- Kitchen: functional but a bit dark and old. The appeal of the house would be improved with a new kitchen and perhaps opening up the kitchen-dining area.

- Wiring: appears to be modern

- The house comes with a heat pump, HRV and a security system (may need servicing).

- There is a laundry space

The home is at a good price in this market, it's nice street appeal will mean the property could eventually be sold to a home buyer or an investor.

In its current condition the property is expected to easily rent for $450 pw. There is a huge demand for warm homes in good condition and not a lot of 4br+ properties available in the area. An internal cosmetic renovation could see the rent push closer to $500 pw.

As it stands the property would be approximately cashflow neutral in a good part of Taita on 100% lending, 4.5% interest, 2 weeks vacancy and including PM fees, mean it would cover its costs while you invested in and improved it over time.

Taking a longer term view, the garage/sleep-out to the rear of the property appears as if it could be converted into a self-contained 1br or 1br + study unit, which would rent for upwards of $200 pw. You would need to review this with a builder and council first.

All in all, this is a good opportunity in a price bracket in a market that is very active right now. Call me to discuss and I am happy to talk to investors new to Lower Hutt and Wellington through the market.

Amenities

Walking distance to Fraser Park in one direction and the Taita Netball Courts in the other.

20 minutes walk to Taita college.

20km (23 minutes drive) from Wellington CBD.

5km (8 minutes drive) to Westfield Queensgate and the Lower Hutt shops.

QV Report 18 Churton Crescent Taita Lower Hutt.pdf

RA 18 Churton Crescent Taita Lower Hutt.pdf

Rates Report 18 Churton Crescent Taita Lower Hutt.pdf

Peter Ambrose
Licensed Salesperson - REAA 2008

peter@ifindproperty.co.nz
021 225 5753

Contact us about this property

This property is SOLD
Don't Miss the Next One!

Contact the agent today to register for their local hotlist and get first notification about new properties.

Contact Peter »

Agent Contact Details

Peter Ambrose
Licensed Salesperson - REAA 2008

peter@ifindproperty.co.nz
021 225 5753

After 9 years of searching for a way to invest in an NZ rental property whilst in the middle east, I finally found iFindProperty. It was well worth waiting for. Not only have I now purchased my first rental property, I have gained an incredible amount of knowledge from working with a team of professional investors who have a lot more experience than myself to help me make informed and sensible decisions.

The entire team was there for me every step of the way, regardless of how many questions I asked! I feel like I have not only been introduced to an entire network of contacts, whom I hope to use going forward feel, but I have also gained friends..

Simon - expat Kiwi in Qatar

We decided to sell our much loved family home of 12 years so contacted someone whom helped us in the past, unfortunately he did not specialise in our current location and so we trusted his recommendation to Peter Ambrose.

I contacted Peter and we explained what we wanted after meeting and the rest was a blur as it happened so quickly. We found Peter friendly and easy to communicate with. His expertise was genuine and transparent, especially if there was something we needed clarified and unsure about. After first-hand experience we can now confidently and personally highly recommend Peter Ambrose and iFindProperty to others that need to go through what would normally be a stressful process of selling your property and home with ease and the least hassle.

Again, we express our thanks and much appreciation.

Ete and David

Searching for an investment property in NZ isn’t easy in a tight market and is even more difficult when you live overseas (even if it is just across the ditch!).

iFindProperty made it easy. Peter took the time find out what my requirements were and knows the local market and how it is changing. His great communication and extra help for an overseas buyer was amazing! I highly recommend Peter and the iFindProperty team as they make investing much more achievable and easier.