LEGAL AUCKLAND HOME & INCOME – POSITIVE CASHFLOW & UNDER VALUATION!!!!

Listing Number:  1830
Posting Date:  29 October 2010






 
Price:$365,000
Listing:LEGAL AUCKLAND HOME & INCOME – POSITIVE CASHFLOW & UNDER VALUATION!!!!
Type:Home and Income
Category:Assignment
Bedrooms:5
Bathrooms:2
Region:Auckland
Site Area:683 m2
Address: Login
Building Area: 
Property Image

Description:

It is very rare that you can find a home and income in Auckland that is positive cashflow, under valuation and legal. This investment property includes a 3 bedroom main dwelling and a 2 bedroom minor dwelling. The property is under contract for $365,000 and is currently tenanted at $657 per week which gives a 9.36% Gross Yield. It also has a recent Registered Valuation of $396,000 which gives an immediate Equity of $31,000.

The numbers really do stack up on this property!

LOCATION
The property is situated in a very good Manurewa location and is readily accessible to all amenities and facilities including shopping, schools, motorways and public transport.

PROPERTY
- 683 m2
- Two dwellings
- Legal home and income (Please refer to attached LIM Report)

MAIN DWELLING
- Constructed over one level with an area of 92m2
- 3 bedrooms,
- It has a basement single lock up garage
- Concrete base, weatherboards and concrete tiles
- Interior – Presentation is generally good. Has been recently redecorated and bathroom has been upgraded

MINOR DWELLING
- Constructed on concrete floor, coloursteel metal walls, aluminium joinery and an iron roof. It is fully lined
- 2 bedrooms
- Contains an open plan lounge/dining, kitchen, bathroom/toilet
- Good condition internally/externally

(For more detailed information please refer to the attached Registered Valuation)

IMPROVEMENTS
- The kitchens in both dwelling could do with a bit of work
- The bathroom in the minor dwelling needs a bit of attention
- The decking between the two dwellings has some holes so some new wood panels would be good.

(Please refer to the photos)

DETAILS
- Purchase Price: $365,000
- Assignment Fee: $5000 + GST
- Registered Valuation: $396,000 – 19th March 2010 (Vendor will provide update valuation to buyer – price may differ slightly)
- Equity: $31,000
- Rent: $657/week ($370 and $287 – I have copies of the Tenancy Agreement for interested parties)
- Yield: 9.36%
- 20 Days after Unconditional Date
- Deposit: $10,000

This is a hot listing so I don’t expect it to last long. I have tried to include as much information as possible so you can make a decision. This property is a first come first served basis. The assignment will go to the first completed assignment documents returned and paid assignment fee.

I look forward to passing this deal over to a happy investor!


Additional Documents:

Click to Download
Description: LIM Report
File Size: 3.06 Megabytes
Click to Download
Description: Registered Valuation
File Size: 3.68 Megabytes