Attention investors, the last three units like this were all sold within 2 weeks.
Photos are taken from a similar unit.
Below is a summary of 411/133 Beach Road in Auckland Central:
Address: 411/133 Beach Road Auckland Central
Layout: Studio
Size: approximately 19 sqm
Tenure: leasehold
Income: currently tenanted at $338/week + GST ($388.78/week), till 01/07/2025. It is currently managed by Unilodge Management and it can be terminated with a notice.
Outgoings are as follows:
Operating expense: $3,658.92 incl. GST per annum
LTMF: $526.44 incl. GST per annum
Ground Rent: $4,257.6 incl. GST per annum
Council Rates: $1,262.42 incl. GST per annum
Total Outgoings: $9,705.38 per annum
The ground rent review for this building went really well last year. The increase was very reasonable. It's only about 12.5% increase for the last five-year period. And the next review is over 4 years away.
Net Return: 12% as is at asking price and can be over 15% if managed properly.
Price: $74,900 incl. GST
Call Ron and Zoran to secure this property today.
Photos are taken from a similar unit.