13 Kauri Street, Tokoroa, South Waikato

Positioned in the serene cul-de-sac of 13 Kauri Street, Tokoroa, this freehold property is a goldmine for investors. Consisting of four spacious 2-bedroom units on 809m2 of land, each with a carport and additional parking, this 1971-built complex with iron roofing and fibrous cement walls offers a stable rental income with potential for growth. Currently valued at $700,000 with a consistent government valuation over the years, the property's Capital Value remains stable. Notably, the HouGarden AVM estimates a slightly lower value of $680,000, yet the property's latest sale history shows an upward trend, with a sale price of $310,000 in 2017 and $196,500 in 2008. The property's average condition is a canvas for adding value, with the prospect of high returns on investment.

From a valuation perspective, the property has seen no increase in its Capital Value since 2018, maintaining a 0.0% growth rate. However, the potential for capital appreciation is clear, given the strong demand and high occupancy rate in the popular northern catchment of Tokoroa. With a rental appraisal of $370-$390 per week per unit, the annual rental income could reach $81,120, indicating an impressive 9% gross yield.

For families, the property falls within the contributing zone of Tokoroa North School, rated at a decile of 3. This investment not only promises financial returns but also access to quality education. It's a win-win situation for both investors and families seeking a hassle-free investment in a prime location.

Updated on July 22, 2024