Description
Quiet Listing
2x 5 Bed / 1 Bath flats that have been recently renovated.
Suburb location close to city. Lots of off-street parking available.
8.8% Gross yield
Total Cost $1,086,000 inc IFP Fee
Cash flow Positive by $12,000 per annum
As a result of the client enquiring after a "deal sheet" email, an investor from our database engaged me as their buyers agent.
I initially worked through a different property with the client, but after some discussions and analysis we concluded it wouldn’t suit them and focussed on this property as the yield was too good to ignore.
After the offer was accepted, I guided my North Island buyer through a thorough Due Diligence process which uncovered a couple of red flags. Happily, the vendor committed to completing some small upgrades/fixes on the property prior to settlement to ensure the property was Healthy Homes compliant. The client has some further upgrades they have budgeted to complete in the future around the student tenants and will complete these on their own schedule.
A great outcome for this client.