Listing Number:  902
Posting Date:  18 March 2008

Type:Home and Income
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Address: Login
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This property is a ready to go hands off investment! Newly renovated and 8.7% return in Henderson! Home and Incomes in Henderson for under $400,000 are very rare!

This property consists of a 4 bed house in good condition, with a separate one bedroom downstairs flat. The rental assessments across both amount to around $660 wk making this home and income in Henderson an 8.7% return on investment!

This is the cheapest H I you will find out West at the moment, there are several others on the market to compare:

Same rental return, asking $519k http: www.trademe.co.nz Trade Me Property Residential Property Houses for sale auction 144575139.htm?key=1085508

3 bed 1 bed granny flat, asking $539k http: www.trademe.co.nz Trade Me Property Residential Property Houses for sale auction 145448488.htm?key=1088129

3 bed 2 bed returning $645 wk, asking $559k http: www.trademe.co.nz Trade Me Property Residential Property Houses for sale auction 145446017.htm?key=1088129

This property has been negotiated at $393,000! No work is required, the property is vacant now and ready to rent!

The main house is approximately 160m2, with 4 double bedrooms, the main with ensuite and walk in wardrobe. There are also 2 other bathrooms that service the other 3 bedrooms and the living area. All the bathrooms have been newly renovated and there is also a brand new kitchen installed, with appliances waiting to go in. Open plan dining and living are off the kitchen. There is a DVS system in the house as well as an unused spa downstairs and unused Para swimming pool out the back.

There is a very large undeveloped downstairs basement area that once was a spa pool area. This could easily be redeveloped to provide for 1 or 2 additional bedrooms sleepout areas. Tidied up, the proeprty manager has estimated this top house could be rented for between $480 500 wk.

Downstairs from the main house is a separately accessed 1 bedroom self contained flat. This flat has a brand new kitchen, open plan dining and living area and large double bedroom. The bathroom has also just been renovated with all new fittings.

Both the house and flat are currently vacant as the renovation has just been completed. The renovation included new kitchen and bathroom areas, new carpet and internal painting although the paint job is poor with the painting being over top of the existing wallpaper . Both the house and the flat are on separate water and power meters etc.

I have attached some pictures here, but for a much better feel of the property please watch the video walk thrus attached.

PP: $393,000 assignment fee
Rental: $650 wk could be increased to $690 wk with a tidy up
Deposit: $15,000
Unconditional Date: 1 April 2008
Settlement Date: 4 weeks after unconditional date

Please call me asap on 021 2880119 for more information