Description
5 Williams Street, Marewa, was purchased as a rental investment for $435,000 by a busy couple who both held full-time jobs in Auckland city.
With a rental appraisal of $640 per week, not only was the yield attractive, but it ticked many boxes for an investment property: a solid 1950s (pre-leaky homes) brick home with a new corrugated iron roof and modern wiring, meaning there should be very little maintenance for years to come. Brick is an attractive quality when assessing deals. It's a great low-maintenance option that doesn't need repainting every few years like weatherboard homes. The property is in a good location, with minimal garden and section to maintain, close to schools, shops, and other amenities, making it attractive to a wide range of tenants. The clients are well pleased with their purchase, a fantastic addition to their long-term hold portfolio.