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This leasehold apartment is the perfect opportunity for someone looking to maximize their return on their money, or if looking to have a city lock and leave.
Firstly...location.
Does it get any better than this? A stones throw away from Spark Arena, meaning anyone looking to Airbnb could really greatly increase the yield already being achieved.
Secondly...the numbers.
With body corp increasing in many standard freehold complexes nowadays, there isn't as much difference in outgoings as you may think compared to a normal freehold apartment in Auckland CBD. And for the price you pay...it would simply be going to the bank anyway instead as a mortgage.
Body Corp & Ground Rent - $12,008 per year, if paid on time.
Rates - $1813.79 per year.
Current rental is $490 per week, which has been the charge for a while now.
So at the asking price here of $149,000, that is almost 8% return net on your spend.
With similar standard 1 bedrooms now renting for $550 per week, you could have this up to 9.9% return in no time too.
With a car park and additional storage, this really is the best of leasehold. Affordable, low ground rent, prime location.
Get in touch for a private viewing.
Note: Some photos used are of a similar unit in the same complex; however, please note that the furniture, outlook, and finishes may vary. For more specific details, please refer to the chattels list. The chattels in the photos may vary from what is being sold, please check the chattels list if this is important to you.
