Let The Good Times Roll

8 Scotia Place, Auckland Central

Asking Price NZD $179,000

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Let The Good Times Roll | 8 Scotia Place, Auckland Central | 1652972 |      X Close

Let The Good Times Roll

Freehold one bed and a car for $179K.

Supersized investment with a 10%+ net return - just try and beat that! You'll need to be a cash buyer for this as the remedial issues found are yet to be fixed - in fact it could be another couple years before you're called on for a levy so jump on board and ride the gravy train!

At 8 Scotia Place issues have been found with the cladding that need to be fixed - whilst you will be called on for a levy eventually this could be years away and in the meantime rents are not being effected but the buy price is.. massively.

What does this mean for you? A whopping 10%+ net return off a measly $179K and potential capital gains once all is complete should be massive.

The owner requires a prompt sale, as such is leaving room, huge room for profit after remedial costs.

Located down a private street overlooking green and leafy Myers Park, with a park view and a development on each side of the road, future values are going to go through the roof. Added to that you have very low body corporate fees and rates and a Freehold title. This little stunner is peaceful and private but minutes to transport, Universities, amenities and the CBD. The current tenants love the apartment, look after it and its contents like their own.

+ 30m² 1 bedroom (floor area set to be increased after works are completed)

+ Carpark

+ Body Corp $3,861.20 p.a. inc GST

+ Rates $1,201.31 inc GST

With the current average sale price in the city of over $10,000 per m² and new developments heading toward and past $15,000 per m², try this at under $4,000 per m².

Borrow the lot against existing security and soak up the exceptional returns. Better yet pay cash.

One of the best opportunities on the market.

Don't delay, call us now!