133 Beach Rd, Akl City Apt. 13% Return In Your Hand.
Studio Sold - Auckland City
ATTENTION: Cash Flow Lovers. 13% NET in your hand. $89,000.00
FYI, I have lender who will lend 50% of the purchase price fix at 11% for 5 years if required on this unit. (as a 1st Mortgage, you must have clean credit, fees apply)
133 Beach Rd, Auckland City
Rent $300-340 per week
Low Body Corp $3,800.00 per annum (includes water)
Rates under $1,000.00 per annum
Total $4,800.00 per annum
Net Yield/Return – 13.3% rented at $320p/w (I own a unit in this building and it is rented at $300p/w on a 12 month agreement) $320p/w will be easy to get as rents have all gone up due to the high demand and a shortage of rentals.
Leasehold – in perpetuity (so this is not like other leasehold in Auckland were you have to give the keys back after 50 or so years, This lease is forever making it one of the best ground lessees in Auckland)
The ground rent is reviewed every 5 years and was last review last year. The Ground rent was increased by approximately $20 per year. (and no that’s not a typo, $20 per year increase on the Ground Rent.)
Fully Self Contained
Washing Machine / Dryer (there are only 3 units in this building with there own Landry “ This is one of them” – All other tenants have to use the Communal Coin Operated Laundry room.)
Bathroom with Shower.
Security and reception
No Car Park
Communal Areas / Facilitles $1,800.00 per annum “approximately” (optional) (I have a unit in this building and I choose not pay this fee)
Outdoor pool and terraced BBQ area
Onsite Gym, games room and theatre
Communal lounge, coin operated laundry with ironing facilities
Commercial communal kitchen and dining area
“Unilodge” is in the heart of Auckland’s University precinct and this popular self contained unit is in mint condition and on the 6th floor with plenty of natural light.
It is situated in the Law District just down one street from Auckland University and 15 minutes walk to AUT.
This leasehold is not like others which are created to mature on a certain date, this one is “in perpetuity” ie. it has no end date so is similar to buying freehold with a interest only moragege of 6%. Can be owner occupied or rented. The unit is NOT currently under a hotel lease (there is only a hand full of property out of the lease in the beach rd Unilodge) The return on properties with it in the hotel pool is poor and they can not be taken out of the lessees 🙂 (unlike this one)
UniLodge Auckland apartments are also conveniently located close to the city centre where you can go shopping, visit the theatre and galleries, or just relax and enjoy a coffee in one of the many cafés. UniLodge Auckland is also on the city’s main bus route, which makes travel throughout the region very easy.
University of Auckland – 5 minutes walk
AUT – 10 minutes walk
Buses right by the door
Supermarket – 10 minutes walk
Queen St and Shopping Centre – 8 minutes walk
Sky Tower – 15 minutes walk
Train Station – 8 minutes walk
This is a great building with good facilities and location.
- 1 bed
- 1 bath
- Floor Area is 19 m²