A 6 BEDROOM HOUSE FOR UNDER 400K AND MORE THAN 7% YIELD!

Listing Number:  190
Posting Date:  25 August 2007






 
Price:$386,000
Listing:A 6 BEDROOM HOUSE FOR UNDER 400K AND MORE THAN 7% YIELD!
Type:House
Category:Private Sale
Bedrooms:6+
Bathrooms:
Region:Auckland
Site Area:734 m2
Address: Login
Building Area: 
Property Image

Description:

This is a 6 bedroom two level house on a level contour of 736 square meters. It is a fully fenced front section with huge potential. It is ideal for an investor who is looking at generating 3 possible income streams from this property: 2 tenants on the two floors and a possibility of a minor dwelling. All of-course subject to council consent.

There are 3 double bedrooms and 3 single bedrooms 4 of them on ground floor and 2 upstairs. Each floor has its own lounge. Though there is only one kitchen upstairs, there is a space on the ground floor that can be converted into a kitchenette. The upstairs bathroom has a bath and the downstairs bathroom has a shower.

Some of the other features are Modern Kitchen, Open plan dining, polished floors and decking. There is an enclosed single garage and a garden shed. The section is fully landscaped.

The area is handy to local schools and within 5 minutes walk to the popular Glendene Primary. Bus stop is at the door and the local dairy is across the road. I have a current Barfoot and Thompson rent appraisal for the house to be rented in the range of $450 to $520 per week at the current condition. A fresh coat of paint will bring new life and more dollars.

The RV is expected to be in the range of $420,000. Sales in this area are very strong - the 5 bedroom house across the road is currently listed for $429,000. Another 5 bedroom house on the adjacent road sold for $415,000 in June.

Total Purchase price: $386,000 (including assignment fee of $5,900)
Unconditional date:September 14
Settlement: September 28
The Sale and Purchase agreement has a Due Diligence and Early Access clause.