8% HOME INCOME IN NELSON ALL NEWLY RENOVATED!!

Listing Number:  719
Posting Date:  05 February 2008






 
Price:$390,000
Listing:8% HOME INCOME IN NELSON ALL NEWLY RENOVATED!!
Type:Home and Income
Category:Double Settlement
Bedrooms:5
Bathrooms:2
Region:Nelson / Tasman
Site Area: 
Address: Login
Building Area:568 m2
Property Image

Description:

This property is a legal home and income property in excellent condition in the high capital growth area of Nelson returning 8% yield. This is rare as higher yielding properties are very hard to come by in this region!

Nelson has consistently had strong growth over 2007 with 10.8% growth for the 12 months to December 2007.

This property consists of a 3 bedroom house and 2 bedroom flat underneath each with separate off street parking and entrances. There is expansive decking and views upstairs as well as 3 offstreet parking one single garage.

The 3 bedroom upstairs is currently vacant renovations have just been completed between tenants and can rent immediately for $340 wk. This house has just been professionally painted inside and out all Resene quality paints. Renovated kitchen, new flooring in dining kitchen laundry, bathroom and toilet. New Carpet in Living area. Consists of ppen plan living area, wetback free standing log fire. Fire alarm, single garage and 2 offstreet parking, 3 sides of house has decking, great views.

The downstairs home is currently tenanted property managed by Summit currently earning $220 wk with adjustment due in 60 days march 31 to $260 wk. This property is self contained with one off street parking space, new Mitre 10 Kitchen 12 months ago, new Fujitsu Heat pump, new carpet in living space, and walls and ceilings painted by professional using Resene quality paints. Firealarm system and sprinkler system.

Both rentals have a current building warrant of fitness reqd in Nelson for a house split in 2 flats .

PP: $390,000
Deposit: $10,000
Rental: $600 wk
Yield: 8%
Unconditional Date: 26 February 2008
Settlement Date: 6 weeks from unconditional date
Rates: $1630

NOTES: about the photos the 3 bdrm upstairs has the white kitchen and log fire.
The photo on the new vinyl is light blue and has no purple in it this was caused by the camera the grey kitchen is the 2 bedroom apartment.

For more informatiom please call me on 021 2880119