Here is a great opportunity with interest rates so low, so grab yourself a 7% gross yielding investment. On offer is a dual income property consisting of 2 cottages with potential to add value, situated in popular Ngongotaha and handy to all amenities.
Cottage B is two bedroom has a brand new kitchen and bathroom and has been recently refurbished, it could benefit with a second coat of paint to the interior and maybe rehang the drapes.
The property would rent " as is for $280 p/w but by double glazing and adding a deck it would enhance the property and increase the rent to potentially $340-350 p/w.
Cottage C is in original condition but extremely tidy and low maintenance with nice sunny deck and garden shed.
It consists of a large double bedroom plus an office. The bathroom and kitchen are tired and if both were modernised (approx $15,000) the rent could increase to a higher level. There is an additional large laundry area that could potentially be reconfigured. The tenant has lived here for 20 years and would really like to stay in the home she loves ( and prefers the wooden floors rather than carpet).
Both cottages are heated by wood burners so extremely cosy and both have their own carports.
Healthy Homes assessment has been completed and the homes comply with regulatons or have exemptions ( apart from some draft work on some windows).
Adding double glazing, nice driveway, fencing and a little bit on landscaping could really add value.
This is a great entry level opportunity for you to own a dual income on one crosslease title.
There is a separate home on the front of this freehold section.