9.9% YEILD IN ROTORUA

Listing Number:  833
Posting Date:  03 March 2008






 
Price:$285,000
Listing:9.9% YEILD IN ROTORUA
Type:Unit/Flat
Category:Assignment
Bedrooms:6+
Bathrooms:3+
Region:Bay Of Plenty
Site Area:1558 m2
Address: Login
Building Area:64 approx m2
Property Image

Description:

This property consists of 3 x 2 bedroom spacious units each on their own cross lease title. Each unit is in good condition, is tidy, has carport facilities, each unit is fitted with a burglar alarm.
The rental appraisals are

290 A Malfroy Road
ROTORUA $185.00 per week
290 B Malfroy Road ROTORUA $175.00 per week
290 C Malfroy Road ROTORUA $180.00 per week

If each unit was upgraded by redecorating the interior, landscaping the grounds and installing a reliable source of heating the rents on each unit could increase by $10.00 to $15.00 per week.

A Dairy and takeaways are just across the road. All levels of schooling are with in easy walking distance. The CBD is less than a 5 minutes drive and a regular bus service operates on the street.

Rotorua rents have increased an average of 10% over the last year, one of the highest rises in NZ. http: www.landlords.co.nz read article.php?article_id=3103

There is good demand for rental properties close to town.

More photos available just email me and i send them to you

PLAN A
Keep them as a long term investment.

PLAN B
Put decks on the two units that dont have any, paint the outside of the units and resell individually and make a profit of $75,400.

HOW?

EXSPENSES
Decks estimate $ 8,000
Paint outside estimate $ 6,000
Realestate fees $ 15,600
cost of units $285,000

Total $314,600

INCOME
Unit 1 $130,000
Uint 2 $130,000
Uint 3 $130,000

Total $390,000

TOTAL PROFIT = $75,400



This deal is available through asignment and settlement is on the 7th April 2008. If no one is interested I will be buying these units myself. I know I will get a lot of interest for these units so I will work on a first in first served basis. So the first person to sign a deed of nomination and settle on the 7th April will be the proud owner of this property.

If interested please

Call Amber now on 027 294 6949 or 07 825 8785