Potential 8.8% Yield and 25% Equity!! | New Zealand Real Estate Investment Property Deals.

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Listing:	POTENTIAL 8.8% YIELD AND 25% EQUITY!!
Type:	House : Do-Up
Category:	Double Settlement	Bedrooms:	3
Price:	$153,000	Bathrooms:	1
Region:	Bay Of Plenty	Site Area:	660 m2
Address:	Login	Building Area:	100 m2

Description:

3 Bedroom Stand-Alone Home in Great Location.
Freehold, flat, fully fenced section.
Zoned for Western Heights High School.
Close to local Primary School and Intermediate.
Great shopping and medical centres nearby.
Current yield 8.4%.
Create equity++ with reno.

This 1970s colonial style home has great street appeal.
The current tenants have been there for 6 years and call the place home.
It is zoned for Western Heights High School, and all levels of schooling are within walking distance. Located close by is a shopping & medical centre, and good local transport.

It is a low maintenance, fibre cement house with a tile roof.

The house is 100m2 with 3 double bedrooms (each with built-in wardrobes), and gets plenty of sunlight.
It has a good sized lounge with a wood burner. The dining area is off the lounge. The kitchen is a good size and has plenty of cupboards & bench space, and is in good overall condition.

There is a separate toilet. The bathroom has a bath, plus a separate shower box. The shower box is in great condition but the vanity and bath need replacing. There is also a good sized separate laundry and plenty of storage cupboards in the hallway.

The freehold 660m2 corner site section is fully fenced and is beside a school, with views to Mt Ngongotaha. It has some established trees and is easily maintained, with level lawns to mow. There is a single iron garage with workshop room at the front of it.

Opportunity Knocks:
This property is in need of a cosmetic makeover. We have a quote from a reputable local renovater to completely project manage the whole process. Reno will include painting, new flooring, new bathroom and new curtains. The cost incl. gst is just under 20K.

Adding 20K to the purchase price of 153K brings the price to 173K - this will create a potential 8.8% yield and up to 57K equity!

OR ...do nothing, leave as it and you are still receiving an 8.4% yield!

If you are at all interested in this property, please contact Maree on 027 486 6146 or go to IFindProperty.co.nz for more information.

Additional Photographs: