DO-UP UNDER VALUE AND 8% YIELD ~ CHEAPEST HOUSE IN STREET!!!

Listing Number:  1280
Posting Date:  11 November 2008






 
Price:$218,000
Listing:DO-UP UNDER VALUE AND 8% YIELD ~ CHEAPEST HOUSE IN STREET!!!
Type:House : Do-Up
Category:Assignment
Bedrooms:3
Bathrooms:1
Region:Auckland
Site Area: 
Address: Login
Building Area:620 m2
Property Image

Description:

This is a case of the cheapest house in the street, and its by no means the worst! Those looking for a $10-12k cosmetic do-up project with plenty of upside, with a low-entry cost give me a call.

3 bedrooms in Randwick Park, good location, double garage on 620m2. The property has been semi-renovated by the current owners and they have run out of money. They are in a desperate situation and need to quit the property asap.

Renovations wise, you would need to re-wallpaper the bedrooms and bathroom, re-carpet throughout, tidy up a section of the kitchen that needs attention, just give the interior a thorough clean. Outside you would need to waterblast the exterior of the house and tidy the grounds. I would estimate a $10-12k spend max.

After renovation value would be around $270-280,000. See the comparable sales report for comparison. Investors have been hitting this area and renovating under-valued properties in need.

Purchase Price: $218,000 plus assignment fee
Deposit: $12,000
Unconditional Date: 14 November 2008
Settlement Date: 6 weeks after UC date

This is an easy reno job to create equity - for more info please call me on 021 2880119


Additional Documents:

Click to Download
Description: Rental Appraisal
File Size: 34 Kilobytes
Click to Download
Description: Comparable Sales
File Size: 108 Kilobytes