Wellington $600k under Reg Value. 9 Townhouses. $4.395M
Other Sold - Newtown Wellington
Attention: Traders and Buy & Hold Investors.
Massive Discount / Instant Equity. 12% / $600,000 under Reg Value
Price: $4,395,000 (Agents please remember to ad your fee to this price)
9 Townhouse’s on separate Titles. Total Value $5 Million
North Island, New Zealand
9 Townhouses in total.
All on their own separate freehold unit titles so you can sell them off one at time right now or at any time in the future.
Settlement can be anytime between now and the end of Jan 2017
7x Two bedroom homes. Apx 130m2
2x Three Bedrooms homes. Apx 160m2 to 200m2
Total Floor area: 1120m2
Total Land area: 1598m2
Wall Material: Mix of weather board & hardies board with texture
Roof Material: Iron
Own the Whole Block
Bedrooms: 7x 2 Beds, 2x 3 Beds
Bathrooms: 7x 1, 2x 2 Bathrooms
Deck: Yes off every lounge
Court Yard/ garden: Yes off every Dining area
Garaging: Large internal Single
Car parking: Single car park for each home + Visitor Parking OSP
Under Rented (but 100% occupied) $450 to $490 per week each.
Total Rent: $4,410 per week. $229,320 pa
2 separate independent builders reports available.
Insurance: $7,847.19 pa
Rates: $21,555.31 pa
Registered Valuation was done on one of the 2 bed Townhouses by Telfer young 2 months ago just when the Wellington market started to move at $540k. Based on this one Valuation, the total value at around the $5M mark. 7X $540k plus he two 3 Bed houses will value or sell at $600k+ each. Ie $5M total
All 9 houses except number 3 are in really good conditiol and are well maintained. The one house that needs some TLC inside has had the same tenant for a very long time. Hence there has been no opportunity to touch up paint or re-carpet etc. The same owner has had this property from new and has kept a high standard of maintenance, taking every opportunity when there has been a house vacant to repair and replace anything that was or is worn.
Do you own multiple properties scattered all around the place? Well now might be a good time to consolidate your Auckland capital gain and move it somewhere that’s on the casp of going crazy. Settlement is not needed until Jan 2017 so you have time to sell down your Auckland portfolio before settling this property. If you look back over the last 80 years of property cycles it goes something like this. Auckland, then Hamilton & Tauranga and then Wellington etc etc. As they say in investing; Timing is everything. And, buying with a long settlement in a rising marketing is a great way to make free money.
These well maintained townhouses are only ten minutes from the CBD in a lovely neighbourhood surrounded by other quality homes. Walking distance to the main Wellington Hospital. Most of the tenants work at the Hospital and one tenant I talked to was a house wife married to a Doctor and she thought there was at least 2 other Doctors living in the block. Hence the high occupance then top quality tenants in this block.
- Built 1990
- Land is 1598 m²
- Floor Area is 1120 m²