Positive Cashflow in GREY LYNN

Units B & C, 36 Scanlan Street
Price: $1,945,000

This fantastic opportunity meets a bunch of time-tested investment rules, offering an investor strong rental demand, a superb positive cash flow, instant equity; and possibly the best draw card of them all, excellent capital growth potential.

On sale are two units located at 36 Scanlan Street in Grey Lynn. With a total of four units in the complex and offering low body corp fees relative to rents, you can be sure your low-maintenance investment is being run efficiently while you collect the lion's share of the rental.

Sitting in the popular suburb of Grey Lynn, these units have experienced massive capital growth over the past eight years. With a current NET yield of approximately 5.84% and instant equity from day one, this positively geared property investment really ticks some big boxes! Here are some key facts:

* Unit B (six bedrooms and two bathrooms), Unit C (five bedrooms and two bathrooms)

* Asking $1,945,000 for both units representing an attractive 5.84% NET return

* Valuation as of March 2016 (14 months ago) for both units combined at $1,970,000

* Rental Return: $1,250 per week (Block B) and $1,200 per week (Block C), fixed until Feb 2018

* Just 5 minutes’ walk to Ponsonby Road

* High demand for young professional tenants

* Low maintenance construction and relatively inexpensive body corporate

*Rates ($2,692 each) and Body Corp ($4,240 each)

* Open to the possibility of selling separately

Reach out to Hamish to talk through this opportunity more, to request more information or to arrange a viewing.

Property Summary
Rooms:11 bedrooms, 4 bathrooms
Rent:$2,450 rental per week
Gross Yield:5%
Property ID:1838
Seller Details
Name: Hamish Anderson
Company: Property Ventures Real Estate Limited
Phone: 095227963
Mobile: 0220996849
Email: Contact the seller »
Website: www.propertyventures.co.nz
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