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Te Aro, 10C/120 The Terrace

T16476

bed1
bath1

INVESTORS BE QUICK - 6.5% NETT R.O.R.

BEO $199,000 | Tender - Wed 12th Jul 3:00pm (Unless Sold Prior)

House Area: 40 m²
Year Built: 1990's
RV: $175,000
Property Description:
LOW COST PROPERTY INVESTMENT

Here is a hassle free, low maintenance investment with an attractive nett rate of return - 6.5% (conservative estimate).

INCOME:
•Currently under rented at $320 / week
•Rental appraisals say it should be min $360 / week
•Property Guru Market Rent Report has average and median rents ranging from $360 - $378 / week
•$350 / week is a gross income of $18,200
•6.5% nett r.o.r. equals a $201,387 purchase price
•Therefore real potential for immediate upside

EXPENSES:
•Body Corp fees $4,188.07 / yr
•WCC rates $921.77 / yr


PROPERTY VALUES:
40 sqm floor area. 1 bedroom, 1 bathroom, Open plan kitchen and living. West facing aspect.
Very rentable. High demand rental location (The Terrace). Victoria University in close proximity. Very central Mid-City location. Apartment has enduring appeal. Compact and highly functional floor plan. Simple out-goings. Well managed building. Excellent Body corp secretary.

TENDER: Closes 3:00pm 12th July 2017 at Tommy's Real Estate Ltd, 209 Victoria Street, Wellington.(Vendor reserves the right to sell prior).

Call now to find out more.

John Kettle - Apartment Specialist
EM: jkettle@tommys.co.nz
MB: +64 27 443 1355

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