WINTON, 5 X 2 UNITS,11.4%YIELD, $35,000 BELOW REG VALUE

Listing Number:  1946
Posting Date:  25 June 2011






 
Price:$365,000
Listing:WINTON, 5 X 2 UNITS,11.4%YIELD, $35,000 BELOW REG VALUE
Type:Unit/Flat
Category:Private Sale
Bedrooms:
Bathrooms:3+
Region:Southland
Site Area:1012 m2
Address: Login
Building Area:300 m2
Property Image

Description:

Five income streams from one property!...Who wants some serious Positive Cashflow at an incredibly low price?.

This block of 5 x 2 bedroomed units is currently returning over 11% yields, and with a good rental history. There is even more upside to bring the rents upto market level and get close to a 12% yield.

We have this block under contract for $365,000…that’s $73,000 per 2 bedroom unit.

We have a very conservative valuation of $400,000, which makes this property $35,000 below value and with a 11.46% yield on current rents

Winton is 30 Kms North of Invercargill, about a 20 minute drive.

The units are on McKenzie street which is a good main area of Winton township.

Central Southland college is just up the road and
And two primary schools are also close by.
There are local shops and Pubs and restaurants to serve the tourists and farming community.

All five units are tenanted with a good history, The lady in Unit 1 is the “campmother” who has been there for several years and looks after the front lawns, she is on a very conservative rent of $150 PW

All other units are rented at the market level of $165PW except the unit with the carport which is on $160PW

Even at this current rent level the block runs at a huge 11.46% return

We have a rental appraisal from Hoamz property management which states market rent is $165PW for all units. Which would bring the yield upto 11.75%

Blocks of well maintained, low maintenance units like these are an investors dream, they offer high positive cashflow from multiple income streams

This is a very good buy and hold property in a popular area.

Even though Winton is a small township not far from Invercargill, it is a very appealing area to live with families, and offers high employment.

This property represents a stable investment with a high income from a very low purchase price.

It is not often you get the chance to buy FIVE flats for the same price as One house.

Be quick, this property is offered on a first in first served basis

Ph Shane Allen 027 651 3418 Or Visit;

www.propertyinvestorcentre.co.nz