This one bedroom apartment is an awesome catch! Why- Located right in the middle of Wellington City, this conveniently located apartment & car park allows you OR your tenant to easily eat out, shop, go to pubs/bars, grab a nice cup of coffee, watch the latest movies in cinemas, train at the local gym and so much more....
The secured covered car park is also a huge BONUS! We all know car parks in the city currently range between 60K - 70K. Car Parks on Tory Street marketed at 60K, car parks at Lorne Street marketed with a buyer enquiry over 70K. The owner for this property is only asking a buyer enquiry over 265K FOR BOTH APARTMENT & CAR PARK. You do the math, and I hope you see the VALUE.
Wellington City Council states, "49 Manners Street is currently not earthquake-prone under the current policy" and the engineer's report states, "the building has not been compromised". (All this information is in the information pack).
Great news, the damage from the 2016 earthquake has been completed on this apartment level but please note, some other levels of the apartment complex are still in the process of being repaired so don't let that put you off when attending the open homes or viewings. Even BETTER NEWS!, I have been advised that EQC (earthquake commission) is funding these repairs. Yay!!!
Information for investors: Rental appraisal for apartment is anywhere between $400 - $420 per week. I am aware there are other similar mirror image apartments in the complex being rented for $420 per week and another at $430 per week. The car park of the apartment is currently rented for $300 per month. Net Yield is 6.9% - 7.3% (based on 52 weeks rent). Isn't this a good investment.
Contact me for a viewing: Phil Mac (021 057 6489) Email: phil.mac@raywhite.com
This one bedroom apartment is an awesome catch! Why- Located right in the middle of Wellington City, this conveniently located apartment & car park allows you OR your tenant to easily eat out, shop, go to pubs/bars, grab a nice cup of coffee, watch the latest movies in cinemas, train at the local gym and so much more....
The secured covered car park is also a huge BONUS! We all know car parks in the city currently range between 60K - 70K. Car Parks on Tory Street marketed at 60K, car parks at Lorne Street marketed with a buyer enquiry over 70K. The owner for this property is only asking a buyer enquiry over 265K FOR BOTH APARTMENT & CAR PARK. You do the math, and I hope you see the VALUE.
Wellington City Council states, "49 Manners Street is currently not earthquake-prone under the current policy" and the engineer's report states, "the building has not been compromised". (All this information is in the information pack).
Great news, the damage from the 2016 earthquake has been completed on this apartment level but please note, some other levels of the apartment complex are still in the process of being repaired so don't let that put you off when attending the open homes or viewings. Even BETTER NEWS!, I have been advised that EQC (earthquake commission) is funding these repairs. Yay!!!
Information for investors: Rental appraisal for apartment is anywhere between $400 - $420 per week. I am aware there are other similar mirror image apartments in the complex being rented for $420 per week and another at $430 per week. The car park of the apartment is currently rented for $300 per month. Net Yield is 6.9% - 7.3% (based on 52 weeks rent). Isn't this a good investment.
Contact me for a viewing: Phil Mac (021 057 6489) Email: phil.mac@raywhite.com
RV: $260,000
Body corp: $447.31 per month
Council Rates: $1,040.10 per annum