GISBORNE 9.5% YIELD, 2 X 3 BEDROOM UNITS FOR $187,000!!!

Listing Number:  667
Posting Date:  17 January 2008






 
Price:$187,000
Listing:GISBORNE 9.5% YIELD, 2 X 3 BEDROOM UNITS FOR $187,000!!!
Type:Unit/Flat
Category:Assignment
Bedrooms:6+
Bathrooms:2
Region:Gisborne
Site Area: 
Address: Login
Building Area: 
Property Image

Description:

This is another fantastic high yield Gisborne property the last property I had similar to this latest one day. The property consists of 2 x 3 Bedroom very solid well built units; each unit has double garaging with internal access. This is a great buy and hold property with a current 9.5% yield in one of the highest growth areas of New Zealand.

The property is located on Ranfurly Street which is less than 2.0 kilometres from the business district of Gisborne City. The surrounding area comprises a mixture of Crown rental flats and single unit residential property of post 1960 era and variable construction type. All city services are available including water, sewage, electricity, telephone and gas.

Current Rent:
$175 week
$160 week
Total: $335 week

With a general tidy up and paint you could achieve even higher rents. This would easily increase your yield to 10% and you would be left with a positive cashflow property.

Details of the Deal:
Purchase Price: $187,000
Deposit: $7,000
Unconditional Date: 25th January 2008
Settlement Date: 4 weeks from unconditional date
Assignment Fee: $5,000

Please feel free to get in touch if you are genuinely interested.

James Monk
0272000450