10% YIELD, POSITIVE CASHFLOW, SUBDIVIDABLE!!!!

Listing Number:  223
Posting Date:  06 September 2007






 
Price:$220,000
Listing:10% YIELD, POSITIVE CASHFLOW, SUBDIVIDABLE!!!!
Type:Unit/Flat : Subdivision Potential
Category:Double Settlement
Bedrooms:3
Bathrooms:
Region:Taranaki
Site Area:1345 m2
Address: Login
Building Area: 
Property Image

Description:

This renovated house has been divided into 3 one bedroom units. The property has been totallty redecorated inside with fresh paint, all new carpets, new lino and all the stoves in the units are in good clean condition. The property has a large section which we have been told by the local council can be subdivided into at least one more site. The grounds are in good condition with recent landscaping.


Hawera is the largest town and capital of the South Taranaki District. It has the largest one-site multi-product dairy factory in the world, which is located just outside of town. With a population of 11,000, Hawera is the second-largest town in the Taranaki region.

The Units are currently vacant - we have had a verbal that the Rental Assessment for this property will be $140-$150/week per unit!!! This gives a great return, pretty hard to find a Positive Cashflow properties these days. We have been told by local Property Management company these will be excellent renters, especially with the dairy factory near by.

According to the South Taranaki District Council the property can be subdividable into a minimun of one additional lot, possibly more - Zoned Residential. Financial Contributions are 7.5% of the value of the lowest price lot.

Options:
1. Buy and Hold as a positive cashflow property. You will also be sitting on a landbank for future developments.

2. Buy and Hold and add additional dwelling which will increase the rent even more. This could be a removal house, transportable (kitset house) etc..

3. Buy, subdivide and sell both properties.

There are lots of options with this property!!!

PP: $220,000
Rent: $140-$150/week per unit
Unconditional Date: 17 Sept 2007
Settlement: 4 weeks after unconditional date

Give me a call now to beat the rush!!

James
0272000450