In place showing 9% return, close to town centre.

Solid 1960's weatherboard house on a full section with single garage close to town center.

Price: $64,000 incluses finders fee
Rental Assessment: $160 - $175pw with cosmetic work
Rental Status: Tenanted at $110pw to tenants who want to stay
Rateable Value: $78,000 Sept 2009

The house is weatherboard, with wooden joinery and an iron roof. Combined kitchen dining area. Open plan living area with gas heating. Wood paneling in the kitchen, dining, living area which is low maintenance, no painting needed. Good sized decking at the rear of the house for in door out door flow. 3 bedrooms. Bathroom with shower over bath, basin, and toilet. Separate laundry.

The tenants are happy to stay however once the house is renovated with new paint in and outside and new floor coverings the property should rent between $160 - $175pw. Estimate to renovate $10,000. I have a very good handyman in Tokoroa who can carry out any and all renovation work needed and is reliable. Also available is a good local property manager to manage the existing tenants or source new tenants once the property is renovated.

The property is within walking distance of Tokoroa town center, less than 1km to 2 primary schools and the High School and Tokoroa Hospital. Whats happening in Tokoroa - Countdown supermarket is in the planning process of relocating to a new site and building a new facility. The new Coundown will be located on the side of town that is closest to St Andrews Dr. In addition the New World supermarket is in the process of upgrading it's existing facility and expanding.

SOLD