ITS ALL HERE CASH FLOW, A TIDY PROPERTY WITH SUBDIVISION READY TO GO

Listing Number:  2679
Posting Date:  11 November 2015






 
Price:$319,000
Listing:ITS ALL HERE CASH FLOW, A TIDY PROPERTY WITH SUBDIVISION READY TO GO
Type:House : Subdivision Potential
Category:Assignment
Bedrooms:3
Bathrooms:1
Region:Marlborough
Site Area:90 m2
Address: Login
Building Area:763 m2
Property Image

Description:

This 1950s, three bedroom permanent material bungalow is in a central location in Blenheim and is currently rented to six vineyard workers. The property has a modern kitchen and bathroom with a make-over only given to it last year this including new carpets and freshly painted both inside and out.

The owner is prepared to guarantee a rental of $780 per week until September 2016 and has a resource consent for the section to be subdivided into two allotments, ready to go, this would provide a great boast in income to anyone wanting to enter the investment market. This property has a great yield, currently sitting above 9% gross, which is well above the normal Marlborough property market. It also has an extremely well managed team in place overseeing this investment.

This property is within walking distance to Blenheim central, Pollard Park, Lansdowne Park and nearby schools.

So many possibilities, this could be a section for your new home, or possibly a home and income type situation. Build new to the rear and rent out the front home, or rent both