About the property

6 x 1 bedroom units on a 1295m2 section.

Built in the 70’s of concrete block & aluminum joinery this block of units is here to stay.

3 are currently rented for $120 p/w and the other 3 at $130 p/w, totaling $750 p/w, all tenants are long term tenants and wish to stay on. These purpose built units are an extremely low maintenance investment in a high capital growth area.

Bring the under rented units up to market rent and achieve an 8.6% yield.

Location:
Short drive to Lake Taupo
Short drive to Taupo town centre

A LOCAL GOVERNMENT WEBSITE SAYS:
The Taupo region’s premium natural attractions continue to underlie steady demand for properties, both from investors and those wishing to settle down and enjoy the unique lifestyle it offers.

Taupo is a region renowned for its fresh water lake the size of Singapore, its rivers, trout fishing, golf, snow, clean air, and outdoor adventures. Located in the central North Island amid a dramatic volcanic landscape, Taupo has always attracted large numbers of domestic and international visitors. But it’s an area where internal activity is also thriving.

Taupo has experienced unprecedented levels of internal growth over the last two to three years, says Taupo District Council planning manager, Gareth Green. “While there’s been some in-fill growth and lakeshore settlement, it’s the Greenfield – or rural – sites where growth has been the most significant. This is where the trend is. The 220-lot Wharewaka subdivision on the outskirts of Taupo towards the airport is an example of this Greenfield growth.”

Purchase price: $470,000 (Includes finder’s fee)
Deposit: $23,000
Rental: $750 per week
Gross yield: 8.29%
Rates 4469pa
Rent $39,000
Less Mortgage* $25,850
Less Insurance $ 600

Balance: $12,550 CASH POSITIVE

*If 100% financed at a one year rate of 5.5%