10.8% RETURN! EXCELLENT CASH COW

Listing Number:  770
Posting Date:  15 February 2008






 
Price:$195,000
Listing:10.8% RETURN! EXCELLENT CASH COW
Type:House
Category:Assignment
Bedrooms:6+
Bathrooms:3+
Region:Northland
Site Area: 
Address: Login
Building Area:812 m2
Property Image

Description:

Excellent cash cow in Kaikohe. This is a triplex on one title. This means there are 3 self contained flats, and one title. Each flat is returning $135 per week, which means the entire property is returning $405 as is. This means that the gross return is 10.8% and NO WORK IS NEEDED! Simply buy and forget.

The rental market has been running hot for the past several months in Kaikohe. The area is growing, and there are no places being built. Past rental records of this property indicate that the most one house has been vacant was 1 week. This means that there is a great opportunity for rents to rise in the next year, making it an even better investment!

This property is in good condition. The outside will need a paint in approximately 3 years, but it is perfectly fine as is.
Excellent opportunity to buy another cash flow positive property. Contract is subject to a 12 working day due diligence.

Assignment fee $7500. Call John on 021 949 836 for more details.