This is a readymade 12.5% cashflow positive investment!
This property is a flat in the city centre of Dunedin. There is also perfect opportunity to add substantial revenue here. Currently in nine rooms but could convert into two flats. There is room to renovate throughout.
The rent is currently $755 per week.
The centre of Dunedin City is the prime area for student flatting. This year there have been an influx of students into the University of Otago with there being more first year students than available beds in the university hostels. This equates to a higher demand for student flats in the area.
Details are below:
PP: $315,000 inclusive of assignment fee
Deposit: $29, 500
Unconditional Date: 16 May 2008
Settlement Date: 30 May 2008
Rental: $755 wk
Please contact me asap on 0273696935 for more information