Te Aro 170/306 Taranaki St

You do the numbers...
Rent: $630pw (market appraisal $655pw) Price: $379,000 Gross Yield: 8.6% (potential for 9.0%) NET Yield: 6.9% (potential for 7.2%) Catch: None
This is a dream investment property, for savvy investors looking for big cashflow, two incomes, central city location, in a modern purpose built building that is fully compliant with the latest building and earthquake requirements.

This property consists of TWO self contained apartments on one title - a 1-bedroom apartment plus a fully furnished self-contained studio apartment.

Tenants love modern central city apartments - they are close to everything, they are new and clean, and they are warm. In addition, one bedroom and studio apartments are hugely popular with young professionals who want location and privacy.

And because it is only two years old, you can relax, safe in the knowledge that it is compliant with council and earthquake requirements.

Details include:
1-bed apartment rented for $350pw (until 13 Feb 2014 - whiteware included). Studio apartment (under) rented for $280pw (periodic - fully furnished). Total rent $630pw = $32,760pa. Market rent $655pw = $34,060 (rental appraisal available). Each apartment has a private deck looking east onto Taranaki St. Having a street outlook means you can never be built out - very important to protect your light, sun and therefore the value of your apartment. Superb central location, between Courtenay Place and the Cuba St precinct, with multiple bars, cafes, restaurants, cinemas, the CBD and waterfront just a short walk away. The new Lighthouse Cuba cinema and the Havana Bar are both on Wigan St, about 100m away. 2012 RV $345,000. Rates $1,539.54pa. BC levies estimated around $5,200pa (The actual rates are to be confirmed, just waiting on the body corporate)
This apartment produces fantastic positive cash-flow (potential 7.4% net yield at the asking price), in an awesome high-demand location, in a fully compliant building. It is a truly set-and-forget investment.

Contact Adam or Julian for more information, or to view, today, and start your journey towards retirement!

Property Information

• Floor area approx 60sqm