This is one of those freehold investment opportunities, equipped with harbour views, where the numbers simply don't lie!
Currently achieving a phenomenal 7.3% net return on investment, makes this tough to beat!
You'll have to be a cash buyer for this one. This is due to the identified remedial issues, not yet been fixed. However, once completed, this apartment will be an even greater asset! The rental prices haven't been impacted, though the property prices have certainly become a lot more attractive!
As it stands, this is a well-kept, 39-40sqm, 1-bedroom, 1-bathroom, North-East facing apartment, with an enormous balcony, which boasts harbour views! Once the project has been completed, the apartment will become almost 60sqm!
The current owner is seeking a swift sale, which therefore leaves a fantastic opportunity for you to profit, once the remedial process finishes. Jump in now and enjoy a staggering 7.3%+ net return, off a super-low $269,000!
New-buildings in the same area of Auckland, are selling for well over $15,000 per square metre and the average sale price in the city, is approximately $10,000 per square metre… If you're wondering what it might be worth after the remedial project has been completed??? It would appear as though you're sitting pretty. So put away the calculator, this doesn't need much thought!
- 39sqm 1 bedroom (floor area set to be increased to almost 60sqm when works are completed)
- Currently Rented at $460 p/week (unfurnished) ($500 p/week unfurnished approx.)
- 7.3% NET ROI (currently unfurnished) 8%+ NET ROI (possible)
- Body Corporate levy: $3,259.72
- Rates $1,066.59
This looks simply like one of the best opportunities in today's market.
Don't delay, call me!
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