$160,000 EQUITY AND $26,000 CASHFLOW A YEAR

Listing Number:  1330
Posting Date:  18 December 2008






 
Price:$640,000
Listing:$160,000 EQUITY AND $26,000 CASHFLOW A YEAR
Type:House
Category:Double Settlement
Bedrooms:6+
Bathrooms:2
Region:Manawatu / Wanganui
Site Area:230 m2
Address: Login
Building Area:759 m2
Property Image

Description:

A great two-storey house near to the city centre of Palmerston North. Ideal for use as a Rent By The Room, with minimal renovations required to add another 2 bedrooms and maximise the rental return.

The first floor has 4 rooms which have been rented out as offices in the past, but would make ideal bedrooms, and there is already a kitchen area and bathroom on this floor for these rooms.

The landing upstairs is spacious and could easily be used as a separate communal living area if needed.

The main living area downstairs currently has 2 bedrooms, with a large family area which could easily be split into two rooms, and that still leaves a separate living area. Downstairs also has the main kitchen and a renovated bathroom/ wet room.

As a bonus, there is also a sleepout (with council consents), and the garage has been converted to offices, which will also provide an income.

This property has so many options. You can keep as is and get rental income from the house and offices, rent by the room with the current set up, or add the extra two bedrooms for maximum rental return on the property.


Additional Documents:

Click to Download
Description: Registered Valuation
File Size: 1.71 Megabytes
Click to Download
Description: Investment Details
File Size: 412 Kilobytes
Click to Download
Description: Cashflow Spreadsheet
File Size: 18 Kilobytes