6 x 2 bedroom flats - $7,000 Pre Tax Cashflow

Price: $440,000

This block of 6 x 2 bedroom flats in Kaikohe is well located just off the main road on a large piece of land.

All units are tenanted receiving rents of $175 a week, one is at $165 a week. Average to good condition, each flat has been tidied, painted etc after tenants leave. There is plenty of add value with this block, they are currently advertised for $575,000 elsewhere. They are separated into 2 blocks of 3 x 2 bedroom flats which may in due course have the opportunity to be changed into 2 titles.

Figures are: Income $51,500 Rent at 50 weeks a year Expenses $3,553 Property Management $26,400 100% lending at 6% $11,000 Rates $1,500 Maint $2,000 Insurance $44,453 Total Send us a message for more information.

Property Summary
Rooms:12 bedrooms, 6 bathrooms
Area:House area: 340 sq. m, Land area: 1416 sq. m
Government valuation:$450,000
Rates:$11,000 per year
Rent:Currently tenanted, $1,040 rental per week
Gross Yield:12%
Potential:Subdivision potential, Do-up potential
Agency reference:Kaikohe
Web site:Click here »
Property ID:1106
Seller Details
Name: Mark Honeybone
Phone: 03-5777086
Mobile: 021-402990
Email: Contact the seller »
Website: cashflowthruproperty.co.nz
« Go back to listings
Site by PHP Developer