Hataitai 93 Rakau Road

INVESTORS:Home & Income - RV $425,000

Opportunity is knocking LOUDLY here!

This solid home & income is positioned for great views and located in a very popular rental location.

For Sale by TENDER - IF NOT SOLD PRIOR.

Currently under-rented (rental appraisal available), this property presents the opportunity to add significant value from cosmetic improvements, and increase the return considerably.

UPSTAIRS FLAT:
4-bed 1-bath (3 very generous doubles, 1 smaller double) Large eat-in kitchen Separate lounge Panel heaters in all bedrooms Insulated ceiling & floor Gas heating in the lounge Currently rented for $500pw (periodic) Market rent $580-600pw (appraisal available)
DOWNSTAIRS FLAT
2 bedrooms (1 double, 1 single) 1 bathroom Large open plan kitchen / dining / lounge Gas heater in lounge (untested) Heat pump (not connected and never used) Insulated ceiling and floor Currently rented for $300pw (periodic) Market rent $310-320pw (appraisal available)
My vendor's instructions are clear: although he has owned this property for 17 years, a change in personal circumstance means HE NEEDS IT SOLD NOW.

With a market rent of $890-920pw (as is), or potentially more with some simple cosmetic improvements, the opportunity exists here to own a traditionally constructed, weatherboard & iron investment property, in a good rental location, with a very strong yield / return indeed.

TENDER details (if not sold prior):
2:00pm, Thursday 12 June 2014 At Century 21, Lev7, 32-34 Kent Tce, Wellington
Contact me (Adam) today for more information, or come to an open home. View quickly to avoid disappointment. Traditional & solid properties, in these locations and with potential for this much rental income, do not present themselves often. Opportunity knocks!

Property Information

• Floor area approx 170sqm