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Price: Buyer Enquiry Over $275,000
Attention Investors! Currently rented at $700 per week and on a fixed term tenancy till Feb 2022, this surely will create consistent cashflow. Like most top gurus would say, money in the bank is NOT King, the REAL King is CASHFLOW!
Think about it, if you hold your money in the bank, you barely make any money. If you buy this property, surely it beats holding your money in the bank. You do the math!
Renaissance Apartments was added to the historic Bank of New Zealand building. This historic building has architectural value for its richly-ornamented facade designed in the Edwardian Baroque style, and an impressive banking chamber, largely intact. The building has considerable townscape significance, occupying a prominent corner site in what is a major focal point within the city.
Size: 120m2 (as per title) includes balcony/deck. Size has been derived from title so please refer to title.
Currently rented at $700/week gives it Net Yield of 7.1 %.(Net yield calculation has been based on 52 weeks of rent less body corp, less council rates).
Fixed term tenancy ends Feb 2022.
Corner apartment with 2 double bedrooms that each have their own separate access to the large balcony/deck. Great for ventilation and more light.
Large balcony/deck that captures morning & late afternoon sun. Enjoy the city views.
Fantastic location. Practically located close to everything making life super convenient - Public transport, shops, cafes, the waterfront and so much more.
Body Corp Levy: $15,666.72 per year
Council Rates: $1,194.12 per year
Disclosure: This building is listed as earthquake prone. CASH BUYERS WANTED!
Under the pre contract disclosure statement, "The building requires earthquake strengthening in the near future which the committee is currently looking into"
For all known disclosures, refer to the info pack.