138 Anzac Av, Small Akl City Studio Apt. 15% Net Return

138 Anzac Av, Small Akl City Studio Apt. 15% Net Return

Studio Sold - Auckland Central

ATTENTION: Any One with $40K in the bank and getting less than 10% Net Return or A low interest Credit Card, Should buy this.

UNILODGE
138 Anzac Ave / Symonds St, Auckland City
Small Studio Apartment

Price $40,000.00
Rent $250-270 per week (once out of hotel pool, it takes 6 months to get this unit out of the hotel pool)
Low Body Corp $3507.70 per annum
Rates $820.58 per annum
Communal Areas / Facilitles $1,800.00 per annum approximately (cost to use the communal areas ie; pool, etc. This fee is optional)
Net Yield/Return – 18% (once out of hotel pool in 6 months time) If you chose to use the communal areas the Net Yield/Return would be 14.9% at the lower rent of $250p/w

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 leasers in Auckland)

Fully Furnished
Fully Self Contained
Kitchenette
Bathroom
Security and reception
Onsite management
No Car Park
No Deck
13m2 Apartment

Communal Areas / Facilitles $1,800.00 per annum “approximately” (optional)
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

When you take this unit out of the hotel pool you would need to pay the GST of 15% on the purchase price so in this case $6,000.00.

“Unilodge” is in the heart of Auckland’s University precinct and this popular self contained unit is in mint condition and on the 13th floor with great views over a green belt to the Auckland Museum and Domain.
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 with 6 months notice. The unit is currently under a hotel lease but is able to be withdrawn with 6 months notice. The return on this property with it in the hotel is poor, hence the price 🙂

Out Look is towards the east, over green belt to Museum and domain

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.

Location:
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.

Comparable sale July 2011 – Unit 607 13sqm $60,000.