CENTRAL NEW PLYMOUTH 10 UNITS 19% BELOW RV POSITIVE CASHFLOW!

Listing Number:  720
Posting Date:  05 February 2008






 
Price:$1,259,000
Listing:CENTRAL NEW PLYMOUTH 10 UNITS 19% BELOW RV POSITIVE CASHFLOW!
Type:Unit/Flat
Category:Double Settlement
Bedrooms:6+
Bathrooms:3+
Region:Taranaki
Site Area:380 m2
Address: Login
Building Area:963 m2
Property Image

Description:

Block of 1 x 3brm, 2 x 1brm, 7 x 1 brm studio units. Only 2 streets up from the beach in central New Plymouth this corner Freehold 963sqm site is strategically set for future capital gains.

All units are on one title. This can be split into 3 or 4 separate titles if desired max councils charge is $3,200 per title

19% $291,000 below Registered Valuation.

All units are fully furnished and have been recently renovated new exterior and interior paint, carpets, vinyl in the kitchens, modernised bathrooms with tiles .

The land is zoned Business D. This allows for a wide range of commercial, business and residential use of the land including motels which this complex used to be before it was renovated and upgraded into residential units . I was at the New Plymouth Council myself and the wide use of the zoning was confirmed.

Purchase Price: $1,259,000
Registered Valuation: $1,550,000 May 07
Rental income: $2,515 pw

Settlement: 27th June 2008

Rates: 6,000 pa apx

Solid construction buildings with plenty of car parks up to 12 vehicles . The buildings are in very good condition and comprise 380sqm in total.

1 x 3 brm unit rented at $385 pw
2 x 1 brm units rented at $260 pw each
7 x 1 brm studios rented at $230 pw each

These units located in short walking distance to CBD and are mostly rented to professional tenants.


This is a unique cashflow equity opportunity!