Landlords.co.nz - Investment Gems

Auckland - City Centre - Akl City Oaks luxury Hotel. Mortgagee Sale. 45% below GV

Mon, 20 Jun 2011 14:00:23 GMT

Freehold, 1 bed + Car-Park, Akl City Oaks luxury Hotel. Mortgagee Sale. 45% below GV
Perfect city pad for your self or for family at uni.

1 bedroom (Not a Studio), 1 bathroom Auckland City Apartment, 31m2.
1 car park
9th floor, top floor Penthouse
Very liveable luxury Hotel Styled apartment.

GV $325,000
Freehold.
No Leaky Problems
On the good side of the building
Balcony
North Facing
Great Views.
Good secure building
1 under ground secure Car-park
Hotel Furniture included.
Out of the hotel pool/lease on settlement day
Great position on Hobson St
A minutes walk to Queen st, The Viaduct and Sky City.

Outgoings
Rates ACR $2,119.00/a
ARC Rates $285.00p/a
Body Corp fees $3,620.00 p/a
Total $ 6,024.00 p/a

Please note attached photos are of a similar apartment.
Please note this is a mortgagee sale and is still in the hotel pool until settlement day so no viewings sorry.
The mortgagee is guaranteeing vacant Possession on settlement day

Auckland - City Centre - Freehold Auckland City Apartment. 11% below GV

Mon, 20 Jun 2011 12:36:55 GMT

1 bedroom (Not a Studio), 1 bathroom
Auckland City Apartment, 57m2, 10th floor.
Very liveable apartment
The last owner paid $245,000 in 2007
GV $220,000
Freehold. No Leaky Problems
Balcony, North Facing, Good Views of Rangitoto Island.
Good secure building, No Car-park
Essential furniture included.
Great position just off Symonds st
A minutes walk to Queen st and AUT
Perfectly located in the University, Hospital precinct and Boys Grammar zone

Rent $400p/w

Outgoings
Rates ACR $2,053.60/a
Body Corp fees $4,172.00 p/a
Total $ 6,225.60 p/a

Waikato / Bay of Plenty - Rotorua - 9.2 %+ Gross Yield and 25%+ Equity!

Mon, 20 Jun 2011 06:57:40 GMT

Equity for Africa & Cashflow!! Low Maintenance Family Home.
Easily Convert from 3 to 4 Bedrooms. Looking for an easy way to recycle your deposit...a simple reno here will allow you to do that. Attractive home in quiet cul-de-sac, popular rental area, with lovely views.

Capital Value (CV): $224,000
Valuer's Estimate: $190,000 as is
$215,000 - $225,000 after internal reno
Rental Status: Has been owner occupied for the last 22 years
Rental Appraisal: $250 - $270 p/w
$285 - $295 p/w after reno

Hidden away from the world but handy to schools and shops is this 3 bedroom property with lovely views. It has been enjoyed by the current vendors as a family home for the last 22 years and is well looked after. It is zoned for Western Heights High School.

Built in the 1980's this 120m2 low maintenance home is clad with concrete fibre plank, aluminium joinery and an iron roof. Open plan kitchen, dining and lounge. Three double bedrooms. Flooring is mainly polished gib board with carpet in the lounge.

Heating is via a heatpump in the lounge and a night store heater in the hallway. There is a space in the kitchen where a dishwasher could be installed. Bathroom consists of vanity and bath only. There is enough room to add a shower, or position one over the bath. Separate toilet and laundry.

Two further rooms have been added to this home (legally permitted) that come off the lounge. One is a conservatory, and the other larger room is currently being used as a massage room. It also has external access via a sliding ranch-slider. Adding carpet and a wardrobe to this would easily create a fourth double bedroom.

The interior of the home appears to be in very good condition and is quite rentable as is however adding carpet to the bedrooms and painting some of the brighter walls a more neutral colour would add appeal, value and rental return.

The entry to the house has a covered deck area, and there is another deck & ouside area off the conservatory. Separate from the house is a single garage + workshop area. There is room to add a covered carport beside the house as well.

This freehold property consists of a large 1325m2 section. Most of this is hillside and left in it's natural state.

Internal tidy up suggested to maximise return: Carpet in bedrooms and hallway Create fourth bedroom from large "treatment room" by adding carpet and a wardrobe Put shower over the bath Paint - neutral colours Adding a DVS and dishwasher is also recommended

A valuer has visited this property and given a value range of $215,000 - $225,000 once the interior is redecorated. Allowing 12K for a reno (above suggestions) would create a potenial 9.2% gross yield and up to 58k equity. ...yes, that's right, over 25% equity!

This deal more than meets all the investment criteria for yield and equity.

I am able to recommend an excellent renovator who can project manage this deal and take care of everything for you.

Wellington - Upper Hutt - 3x 2-Bedrooms Brick Flats 10% Gross Yield 30%+ Below GV

Sat, 18 Jun 2011 10:51:59 GMT

Block of three solid brick units, each on their own title, located in central Trentham. Each Unit/Flat is 60m2 has 2 double bedrooms, lounge/dining, kitchen, bathroom, 2 off-street car parks, and two of them have storage sheds. These units have been well maintained and kept very tidy by the owner, the whole block has a brand new roof. All three are currently tenanted.

There are separate Electric and water meter for Each Flat. This Block is a part of large parcel of land which includes 2 shops and other residential Units 9 in total. This block is fully fenced and each flat has private court yard. The Body Corporate Fee is $294pm and includes Building insurance and common ground maintenance include Driveway, Parking area, Fencing etc.

The flats are currently under rented and could receive $210pw each.
** Rental appraisal available on request. (most resent tenanted flat is receiving $210pw )
One tenant who been here for 6 year is paying lower rent.
Current rents as follow:
Flat 1: $190pw
Flat 2: $200pw
Flat 3: $210pw
Total: $600pw

Bond is held with DBH for all tenancies.
The property is currently managed by the Landlord.
Landlord is paying for Rates which includes water, The Tenants pay for Electric.

Current CV's as follow:
$150,000
$155,000
$160,000

Wellington - Southern Lower Hutt - Lower Hutt cashcow with 300k equity and income of $2,000pw

Thu, 16 Jun 2011 20:26:46 GMT

12.6% yield with potential to increase to 14.0% yield !! $243,000 instant equity with potential to increase to $332,000 equity. $722.00 Cashflow positive per week with potential to increase to $900.00pw. Valuation of $1,068,000 with ability to increase to $1,400,000 by adding 9 seperately contained garages.

12 Bedroom 320m2 house on 1,270m2 section
Pre Negotiated Purchase Price: $825,000
Registered Market value: $1,068,000
Rental Income (per week): $2,000pw current, ($104,000pa) increase to $2,500pw or $130,000pa
Cashflow Positive: $37,544pa or $722.00 pw (potential $46,800pa or $900pw)
Calculated on 6% interest only
Rates: $2,226.16 including regional
Gross Yield: 12.6% – potential 14%
Net Yield: 10% – potential 12.0%
Equity: $243,000 or 25% below Valuation – potential $332,000

Construction: Brick with Iron roof
Age: 1950’s
Number of Bedrooms: 12 Bedrooms
Title Status: Freehold
Size of dwelling: 320m2
Size of section: 1270m2
Parking: 3 car garage + offstreet parking

This is a great opportunity to secure a fantastic cashflow property in an excellent location close to CBD and access to Wellington city via motorway. Property is well managed & maintained, 12 bedrooms being rented by the room on a huge 1270m2 section. We have plans for 9 garages to be added that will be seperately fenced off from house and return $75pw each. Properties like this don\’t turn up very often. Cashflow and equity in a great location with potential to increase cashflow and value.

Registered Valuation: $1,068,000 – potential to increase to $1,400,000

5mins from Queens Gate shopping centre and CBD. Minutes from Motorway with access to Wellington. Close to all amenities and lots of street parking in front of house.

Manawatu / Wanganui - Palmerston North Central - Multi Income with proven return – 4bed house + 3×2 bed flats

Thu, 16 Jun 2011 20:16:31 GMT

Multi Income Property with Proven Track Record
Current 9% yield with potential to increase to 12%. Reno opportunity.
3 Bedroom house with 3×2 Bedroom brick n tile flats fully rented CBD location.

This deal comprises of a 4 bedroom house at the front, and 3 x 2 Bedroom units at the back. The property is situated in a highly sought after central location, just a block away from the Plaza shopping centre. Kiwi Income Property Trust had just spent more than $19 million dollar in a redevelopment of this shopping mall to make it the largest shopping mall in the entire Manawatu and regularly attracting shoppers from all around the region.

Because the property is close to Palmerston North City CBD, it is in high demand from renters, which include not only the student population but also professionals who want to live close to where they work.

It is currently under rented as current tenants have been there for a long time without a rent review. A similar four bedroom house is rented out at $320 per week. While, a one bedroom fully furnished flat next door in similar condition is rented out at $230 per week. But because these are two bedroom flats, $230 pw per unit is easily acheiveable. But this is what we will be using in our calculations just to be conservative.

Pre Negotiated Purchase Price: $490,000

Rental Income (per week): $855pw current, increase to $1,130pw or $58,760pa
Cashflow Positive: $5,200pa or $100 pw (potential $20,000pa or $384pw)
Calculated on 6% interest only 100% borrowing
Rates: $4,838.19 + $310.56 regional
Gross Yield: 9.0% – potential 12.0%
Net Yield: 7% – Potential 9%

Construction: Mixed materials.
Age: 1950’s
Number of Bedrooms: 10 Bedrooms
Title Status: Freehold
Size of dwelling: 330m2
Size of section: 1012m2
Parking: Garage, carport and off street parking

Positive cash flow of just over $380 per week. Cosmetic Reno to House and flats would increase value and increase rental income. If you are after a great cash flow property in good condition that is located in the prime CBD location.

Auckland - Manukau City - Traders, do-up property. The worst house in the best street

Thu, 16 Jun 2011 09:36:44 GMT

4 spacious bedrooms with 2 bathrooms and 2 living areas spread over 240m2. Large deck. Great views out across Manukau City.

2 Reno Options:
Fix price to reno with 2 new bathrooms, paint inside and out, and new carpet $40,000. RV after Reno $530k++. Rent $550-580p/w
or
Fix price to reno with 3 new bathrooms, paint inside and out, and new carpet and make in to a legal 6 bed, 3 bath house $60,000.
New RV after Reno $610k+. Rent $750-800p/w or do it yourself.

The vendor would be happy to rent the property to the new buyer for the 4 weeks before settlement and to let them do the reno for $300 per week rent.

Auckland - Mangere / Otahuhu - $30K+ Equity and potential 9% Gross Yield!

Tue, 14 Jun 2011 12:15:58 GMT

Sunny 3 Bedroom stand alone home on fully fenced section.
Stand alone and low maintenance.
Value could be added with an easy tidy-up.
Located within walking distance to shops, schools and transport.
Easy access to the motorway (approx 2 mins away).

Capital Value (CV): $255,000
Valuer's Estimate: $270,000 + (verbal valuation)
Rental Status: $340 - 360 p/w as is, $400 - 430 p/w after tidy up
Annual Rates: $1078.65
Estate Type: Freehold - crosslease
Land Area: 1/2 int in 1219m2
Floor Area: 80m2

Mangere East is an area which many property commentators have targeted for growth. It is also a high rental demand area.

This sunny three bedroom, aluminum joinery/weatherboard home is privately positioned on a fully fenced easy care section with a single carport. It has a woodfire, original polished floors (making it great for tenants – no stains on the carpet!), a burglar alarm and spacious open plan living that flows through to front and back entertainer decks.

The bathroom has been renovated with new shower and vanity. There is also a garden shed beside the carport. This is a fantastic low maintenance investment property, with an easy-care section that would simply benefit from a little TLC to further add value and appeal. Allowing for a 10K reno to be added to the purchase price, the potential yield is 9% gross!

The condition of the property is quite good considering it has been tenanted. As far as we are able to see, nothing structural is required. What we do suggest is some landscaping and painting some of the interior rooms (currently bright blue!) a neutral colour.

There has been a new vanity and shower put in however the walls in the bathroom have only had one coat of paint, so another coat would be recommended. The polished floor in the bathroom is a little faded, however seems to all be perfectly intact. The outside would greatly benefit by laying concrete from the driveway to underneath the carport and a water blast on the exterior of the house to add both value and appeal to the property.

The property is located in a very tidy street (see photos), with what seems to be mostly home owners who look after their sections and homes nicely. It is down a shingled driveway and off to the left, with another house at the rear of the drive. The neighbours seem quiet, and there is a church situated at the end of the road on the corner. The surrounding streets also seem tidy and appear to be home owners who appreciate their homes and sections and look after them nicely.

Waikato / Bay of Plenty - Rotorua - 50% Below Rateable Value, 16% Potential Return

Sat, 11 Jun 2011 08:33:18 GMT

50% Below Rateable Value!
2-Bed Brick and Tile House on Large Section
Looking for heaps of equity, an investment to more than pay it's way, then this is it.
A good solid house built by the state. The owner paid close to RV four years ago.
The price is so low due to mortgagee sale.
I can recommend a good local property management and renovation company
to complete a turn key project, especially if you are not local.

Price: $62,000 total price. Yes this is correct and it's a bargain
Rental Assessment: $220 - 240pw once renovated
Rental Status: Vacant due to sale
Rates: $1870p.a.
Rateable Value: $129,000 July 2008
Bedrooms: 2, plus 1 room at rear of garage
Bathrooms: 1
Building Area: 80m2
Section Area: 637m2 free hold road front
Year Built: 1970's
Garaging: Single Garage Plus a room at rear of extra long garage

The building construction is brick with wooden joinery and a tile roof. Open plan living, dining kitchen area. Open fire place in living area. 2 bedrooms with wardrobes. Bathroom with shower over bath and basin. Separate toilet. An extra long single garage with a bedroom at the rear. The bedroom has been insulated, carpeted and lined however due to the property being vacant it has been broken into and damaged - mainly broken boards, easily repairable and a new hot water cylinder is needed. Yes the area is low socio economic however this happens in the good areas too.

The property is within easy walking distance of all levels of schooling. Sunset Primary is around the corner. The property is less than 1km from Rotorua Boys and Girls High Schools. Rotorua town center is 3km from the property. There is a large park area and playing fields within 5 minutes walk of the property.

Auckland - Ranui - 28% Below Rateable Value AND 9%+ Potential Return

Fri, 10 Jun 2011 12:51:55 GMT

3 Bed House of Full Section, Do Up and Potential for Minor Dwelling.
Three bedroom house on full section with potential. Some renovation work has been started. A good renovation company is available to complete a turn key project, if you are not local this is fine, they will even hang curtains. A quote is being prepared. Potential to build minor dwelling or sleep out or garaging. Handy to parks, schools and public transport. Birdwood Primary is just around the corner.

Rental Estimate: $360pw once renovated
Rental Statue: Vacant
Rateable Value: $265,000 Sept 2007
Building Area: 90m2
Section Area: 626m2 free hold
Year Built: 1980's
Garaging: Off Street Parking

The building construction is hardiplank, with aluminum joinery and a tile roof. Large separate living area with in door out door flow via via ranch sliders into garden. Combined kitchen dining area. Separate laundry. 3 bedrooms with built in wardrobes. Bathroom with shower over bath and vanity. Separate toilet. Off street parking and fencing on 3 sides. Some of the work needed: New flooring in wet areas, new hot water cylinder and, stove, most rooms have been prepared to paint but need finishing, carpets are good and just need cleaning.

The property is 2 minutes drive to Ranui Train Station with the new double tracking providing easy and quick access to Auckland CBD. Lincoln Road shops with Pak n Save Warehouse and other large retailers is a 6min or 3.3km, as is access to the North Western Motorway. Ranui is the fastest growing area in Waitakere and also the youngest. This is reflected in the high number of preschools, primary, intermeditate and high schools.