PAPAKURA UNIQUE OPPORTUNITY $260K!!

Listing Number:  2361
Posting Date:  01 April 2014






 
Price:$260,000
Listing:PAPAKURA UNIQUE OPPORTUNITY $260K!!
Type:House : Do-Up
Category:Assignment
Bedrooms:3
Bathrooms:1
Region:Auckland
Site Area:530 m2
Address: Login
Building Area:100 m2

Description:

This is an opportunity to renovate a property and either sell for profit or keep as a rental

3 bedroom home with garage that can be converted to sleepout in need of renovation.

The house is located in a central area of Papakura close to shops and schools and public transport. Sales in this street have historically been very strong.

Houses in the area are selling for $330k (house requiring a do up) and up to $425/week rent if the garage is transformed into a sleepout.


The numbers
Purchase : $260k including assignment
Sell for $330k
Profit Margin: $70K - renovation costs ~ you can sell for this profit, or turn the profit into equity and keep the property as a rental.

The Contract
Purchase Price $260k
Deposit $13k
DD period to Monday 8 April 5 PM
Settlement: 45 days
Access is available to begin renovations once unconditional. You could have this property completely renovated before settlement.