Investors! Potential Double Digit Return
518 Linwood Avenue, Woolston
- 12 Bedrooms
- 4 Bathrooms
- 2 Car Spaces
This substantial property which is currently tenanted on a four year lease and returning $80,000.00 net every year. Are you after potentially a double digit return???, you need to take note.
Enough space for all, with the main house having a large lounge that is kept cosy warm in winter by the compliant log burner or out onto the patio and grassed area for the warm summer rays. The kitchen is adequate in size, an additional dining room and bathroom plus three bedrooms.
The extension houses a further four bedrooms, office space and two bathrooms, as well on the third floor a dorm styled room that is portioned off for a further three x rooms. There is loads of storage throughout the home along with wall heaters and a heatpump. The lodge also boosts a self contained two bedroom apartment with a ‘wet shower’, kitchen and lounge.
The bedrooms are mainly north or west aspect to ensure they are gaining the extra warmth over the cooler months. The four rooms on the second floor also open out onto the balcony.
Shopping either at the Eastgate Mall or into Ferrymead/Woolston the tenants don’t have to go too far to satisfy their shopping needs or perhaps a surf or a dip in the sea which is only a 15min drive.
The lodge is complemented by a double garage and plenty of secure off street parking.
This was previously a blended family home so with additional modernisation this could be returned to its previous life or more recently was used as a backpackers.
There is no plan B but to sell as the owner has firm plans and this property is not part of his future due to securing a larger property in the city.
Viewing is only at the open homes due to the tenancy currently in place.
Photos Taken March 2019.
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|Land Size||1055 sqm|
|Property Type||House, Home & income|
|Property Features||Smoke alarms, Other (Smoke Alarms is monitored)|
|Approx year built||1950|
|House style||Other (A Frame Dwelling)|
|Unit style||Number of levels: 3|
|Garaging / carparking||Double lock-up, Auto doors (Number of remotes: 1), Free standing|
|Flooring||Carpet and Vinyl|
|Window coverings||Drapes, Blinds|
|Heating / Cooling||Woodfire (Closed), Heat pump, Electric|
|Chattels remaining||Fixed floor coverings, Blinds (Extension), Curtains ( House & Apartment), Separate Cooktop x2, Separate Oven x2, Heat Pump x2, Multiple Electric Wall Heaters (TBC)|
|Kitchen||Standard, Separate cooktop, Separate oven and Finished in Laminate|
|Living area||Separate dining, Separate living|
|Outdoor living||Clothesline, Garden|
|Lifestyle block details|
|Garden||Garden shed (Number of sheds: 1)|
|Water heating||Gas, Electric|
|Water supply||Town supply|
|Locality||Close to shops, Close to schools, Close to transport|