One Off Investment Opportunity

St Johns

Asking Price NZD $2,250,000 + GST (if any)

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One Off Investment Opportunity | St Johns | 1410634 |      X Close

One Off Investment Opportunity

This is a rare one off investment opportunity.

For sale by the one vendor are four attractive apartment blocks in a great location selling for the freehold price of one but with an income from four!

* Ground rent $87,425

* Rates $24,173.58

* Current Rental $348,660

All properties have twenty one year perpetually renewable leases with review periods of twenty one years.

3 Abraham Place Next review date June 2029;

25 Caulton Street Next review date June 2029;

12 Strong Street Next review date June 2029;

32 Simkin Avenue Next review date December 2028.

True, the ground rent will increase in ten years time but so will the rents and the lease is then fixed through to 2050!

The properties are well positioned on decent sized sections , sturdily built and the vendor has outlaid $150,000 bringing them up to to scratch.

All apartments have two double bedrooms with generous kitchens and bathrooms and are easily tenanted.

St Johns is a very central location. Conveniently positioned for buses, trains, Tamaki Campus, Stonefields school zone, and a short drive to the Eastern Bays.

Agent: Susan Rees 027 535 8173 - Genevieve Thompson-Ford 021 022 07672