Mount Cook 93 Tasman St

CITY FRINGE INVESTMENT - WITH BIG UPSIDE

WELLINGTON PROPERTY INVESTORS: TAKE NOTE!

This is classic property investment with all the right ingredients for strong income and capital growth:
LOCATION LOCATION LOCATION - this must be about as good as it gets. Right opposite Massey university, but also very close to the city, Newtown shops and services, supermarket and the hospital. HUGE TENANT DEMAND ensures virtually nil vacancy and strong rental growth. ENORMOUS POTENTIAL to increase income through smart alterations, thereby also dramatically increasing it's value. TRADITIONAL CONSTRUCTION which appears solid.
CURRENTLY:
2-bed flat downstairs, rented for $395pw until early 2015. 3-bed flat upstairs, rented for $525pw until early 2015. That's $920pw currently = $47,840pa. Both flats very generous and tidy, with some recent renovations to kitchen and bathrooms. RV $415,000 (obviously not reflective of market value). Rates $2,199.05pa.
HUGE POTENTIAL TO RENOVATE INTO:
3-bed flat downstairs (rent $520-530pw). 3-bed flat with two brand new sleepouts plus bathroom in the back yard (rent $850-875pw). 2 car spaces (rent circa $60pw). Total potential rent circa $1,430 - $1,465pw. Rental appraisal available.(Subject to council consent of course)

My vendors have enjoyed 18 years of low vacancy and high income, and have never struggled to find good quality tenants quickly, due to the fabulous location, good size bedrooms and well maintained property.

But the time has come to pass ownership onto the next astute investor. It's your turn now - get in quick!

Property Information

• Floor area approx 140sqm