**DOUBLE FOR YOUR MONEY** BUNGALOW ON SECTION WITH TWO TITLES

Listing Number:  663
Posting Date:  16 January 2008






 
Price:$275k + 5k assignment
Listing:**DOUBLE FOR YOUR MONEY** BUNGALOW ON SECTION WITH TWO TITLES
Type:House : Minor Dwelling Potential
Category:Assignment
Bedrooms:3
Bathrooms:1
Region:Northland
Site Area:958 m2
Address: Login
Building Area:120 m2
Property Image

Description:

* Character bungalow on a section divided into TWO titles

* Worst house in the best street

* Three bed spaceous bungalow plus seperate sun porch / office / play area

* Build on the rear section and keep to increase rental yield OR sell one of the houses to CASHFLOW the remeaining one OR sell the section

* Spend $10k (est.) to paint exterior and INCREASE capital gain. Very tidy interior - this property just needs to improve its street appeal.

* Currently tenanted at $250 per week (tenants want to stay).

* Critical deadline dates; Unconditional - 4th Feb 2008
Settlement 18th March 2008


A 1920's weatherboard bungalow in one of the best streets in Hikurangi (15 mins north of Whangarei). More people living and commuting from this township due to escalating costs in town.

Bungalow sits on 446m2 section. Rear section is 512m2.

My estimate of value of the house - between $235,000 and $275,000. (comparables available)

Real estate agents estimate of section value - around $100,000.