HOW DOES $450 PER WEEK POSITIVE CASHFLOW SOUND TO YOU??!!!

Listing Number:  1431
Posting Date:  24 April 2009






 
Price:$300,000
Listing:HOW DOES $450 PER WEEK POSITIVE CASHFLOW SOUND TO YOU??!!!
Type:Apartment
Category:Assignment
Bedrooms:2
Bathrooms:1
Region:Auckland
Site Area: 
Address: Login
Building Area: 
Property Image

Description:

Apartment 801, 85 Beach Rd, Freehold in Stratum Title.

We wouldn't normally look an apartment deal - but with $450 per week in positive cashflow we couldn't pass this one by!!

This 72.3sqm fully furnished apartment has fantastic harbour views when sitting on the sun drenched deck. The apartment consists of 2 double bedrooms with built in wardrobes, large bathroom, open plan kitchen and dining which flows into the lounge. The location of this apartment is fantastic walking distance to the Vector Arena, Foodtown and Britomart Station, its right in the CBD of Auckland.

The apartment is fully furnished. A list of chattels is available.

There is a fixed term tenancy for 6 months starting from 1 March 09 paying $137 per night or $4245 per month. We have documentation from the management company confirming this amount and that payments have been received and no arrears are owning.


The Numbers:
The apartment is available for purchase for $286,000
CV: $390k
Judging by sales in the area this would RV to $350k
Finders fee: $15k + GST .
Deposit: $10k
Unco Date: 8 May
Settlement: 19 June
ACC Rates; $2835 pa
ARC Rates; $222.47
Body Corp; $4584.33


Assuming that you could get 100% finance on this then this property would be positive cashflow of over $450 per week.

In reality if you had 80-90% borrowing on the property the cashflow would be better than this as borrowing would be lower.

A full copy of the S&P, rental confirmation and pictures are available. Email me at dave@focusproperty.co.nz or call me on 0275003283 for more details.