Return on Investment = 10.66%

This substantial property is currently tenanted on a four year, fixed-term lease that is returning $80,000 + gst per year. At 10.66% ROI, why look elsewhere?

The main house has a large lounge that is kept warm by the compliant log burner and has access to the patio area which catches the summer sun. It is serviced by an adequate kitchen, an additional dining room, one bathroom and three bedrooms.

The property further extends into a further four bedrooms with balcony access on the second floor, an office space and two bathrooms. On the third floor there is a dormitory style room which portions off to be a further three bedrooms. Further, there is a self-contained apartment on the ground floor which has an additional two bedrooms, kitchen, lounge, and bathroom that contains a ‘wet shower’.

There is loads of storage throughout the home along with wall heaters and a heat pump. The property also has a north-west aspect which is favourable to the sun. A double garage and off-street parking add to the property, with plenty off on-street parking within the cul-de-sac further servicing the tenants needs.

The tenants benefit from the property’s location to both Eastgate Mall and Ferrymead/Woolston which means they do not need to go far to satisfy their shopping needs or to the beach which is only a 15-minute drive away.
Once used as a backpackers, the owner has firm plans to sell as this property is not a part of his future due to securing a larger property in the city.

Viewing is by appointment only due to the tenancy currently in place.

**Most of the photos have been supplied by the Vendor and were taken in March 2019. Please note that some older photos have been used where it was not possible to get more up to date photos. Purchaser is advised to arrange a physical viewing or video call to verify what is shown.

At the Vendors instructions any or all offers presented Tuesday 13th Oct 2020 at 4:00pm at 292 Clyde Road Office.

Please copy and paste the below link into your web browser: https://www.propertyfiles.co.nz/property/IL2462