Unit Sold - Newtown Wellington
The opportunity here is a brilliant one in my opinion. These great apartments are in a fantastic location sitting up on top of Adelaide Road. They have recently changed to UNIT TITLE (from Company Share) and the entire building has been Double glazed making them warm, dry and quiet.
The next step for this Building is EQ strengthening as the Building has been YELLOW STICKERED (low NBS Rating, Projected to raise to 70% NBS). This is where the opportunity comes into it. The Vendor wants this SOLD due to a change in circumstances. The next owner of the property will need the ability to finance the EQ work as a separate cost on top of the purchase price, hence the low BEO on it. We have accounted for the estimated cost (approx. $75,000 – $85,000 for this unit) and subtracted even more to allow for the risk involved and the fact there must be some incentive for the next owner to do so. Once the building has been strengthened the Value will rise significantly and the new owner will either have a great home or Investment. Current BC Fees are $1313.50.
• 2 Bedrooms
• Double Glazed
• Fantastic Location
• Garage for parking (or storage)
• Great access to Public transport
• 10 minutes to town or the beach
PLEASE NOTE: Viewing is strictly by appointment, NO OPEN HOMES.
PLEASE ensure you have the ability or funding to approach this deal, check with your bank or mortgage broker prior to buying as not to waste anyone’s time. If you have the money organised, then this is a fantastic opportunity for you. Contact GLENN or MEHDI now for the information on this property that we have available. For sale by Negotiation.