[SOLD] Dual Income Potential

Ngongataha, Rotorua - $440,500

With potential 7% GY and room to add value.


Highlights:

Property Features: Dual income

  • Price: $440,500
  • Gross Yield: Potential 7%
  • Rental Status: 11 B $250 p/w
    11 C Vacant
  • Rent Appraisal: $250 - $300 p/w each
    TOTAL $500 - $600 p/w
  • Written rental appraisal available to potential purchasers
  • Annual Rates: 3,940
  • Estate Type: Crosslease (Freehold)
  • Floor Area: 100sqm
  • Land Area: 1/2 share 1102sqm

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About the Property

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.

Amenities

Across the road from Ngongotaha Primary School, Nearby Ngongotaha Kindergarten, Shopping centre and church.

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

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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."