Leaky Cash Cow in Double Grammar Zone. Parnell. $540k

Leaky Cash Cow in Double Grammar Zone. Parnell. $540k

House Sold - Parnell Auckland

A leaky that doesn’t leak. Mmmm… ok whatever. But It is Double Grammar Zone.

Its priced less than a leaky. This thing would be worth a million plus plus if it didn’t look like a leaky. The Body Coup have decided “not” to reclad it, because it is not leaky. Confused? Yea me to. Lets just call it a leaky.

Price: $540,000 (Agents please remember to ad your fee to this price)

5 Fox Street, Parnell, Auckland City.

Do Up / Ad Value? Well… it could really do with a new kitchen, paint & carpet, that would get the rent up. Other than that. Not much to do. Just rent it out as is or put the kids in it.

3 Bedrooms. Good view for the main bedroom, poor views from the rest of the property.
2 Large bedrooms and 1 small single bedroom,
2 Bathrooms. (1 ensuite)
2 Car parks. Side by side
One of only 15 units/houses.
Floor Area: 100m2
1990-99
Wall Material: Poly
Roof Material: Iron
Body Corp $2,514. 24 less 10% for payment on time

Current rent $650p/w. Would be $850 p/w furnished with a new kitchen, carpet and paint.

The location of this property is Awesome, walk to the city or Newmarket . So close to Parnell shops & public transport. Locations don’t get any better than this. If I could live anywhere in Auckland, it would be Parnell. Double Grammar Zone and only a short walk to the city and waterfront.

FYI No bank is likely to lend on this property so you really need to look at this as a high returning term deposit in a great area. In other words, you will need $540,000 of your own cash or a platinum AMEX to buy this property.