Princes Wharf, Akl City Waterfront Apt, 50m2+, 1 Bed Apt. 10.4% Net Return.
Apartment Sold - City Centre Auckland
Price $75,000. (Agents as always please ad your fee to this price)
137 Quay st
1 bedroom, 1 bathroom
47m2 + Deck
No Car-park, but plenty of street parking near by.
Loads of sun
Not on the water side, but a peep of a water view between the buildings from the huge north facing deck that basks in the sunshine – making it perfect for entertaining.
Essential furniture included. (Needs a new TV)
This apartment is in great condition.
Great position (princes wharf)
A minutes walk to Queen st, Viaduct and Sky City.
This apartment is very liveable.
Government Value $175,000.
Last owner paid $189,000 in 2002
Estimated Registered Value $85-$99K
This property is on a 50 Year lease at 3% of Land Value, this can be changed to a 99 year lease and any time to a rate of 6%.
These 50-year leases are a lot better than the 99-year leases that most apartments at Princes Wharf have, because you get the ground rent at half the price for the 1st 50 years, but most apartments are on the 99 year lease. ie: identical apartments to his, are on the 99 year lease are paying twice the ground rent. This makes this apartment more desirable because of the lower out goings.
Body Corp fees $9,714.99p/a (This is expected to go down in the next 2 years as some one off upgrading is in place and is expected to be completed in the next 2 years)
Ground Rent $2,764.75 (New Ground Rent from 1.01.2011. Reviews every 5 years)
Total outgoings $13,705.51
Net Return/yield $8,134.49 or 10.84%
- 1 bed
- 1 bath