15D Paterson Street, Frankton, Hamilton, Waikato

Kainga Ora pay the lease each month which means the income is guaranteed.

According to the IRD, as the property's sole purpose is for social housing and it is leased to a government department Kainga Ora, then the owner can still claim 100 % interest deductions (Purchasers should confirm this with their accountant or solicitor before proceeding further with this property).

The lease payment received from Kainga Ora is $1,945 per month (net). The lease with Kainga Ora runs until 3 October 2026. Kainga Ora both select the tenant as well as property managing them. The Body Corporate covers external repairs and maintenance. The Body Corporate Levy is $2,481.45 per year which includes the Building Insurance. The Hamilton City Council rates are $2,412.50 per year and the Waikato Regional Council rates are $453.31 per year.

A great opportunity for a very astute investor looking for a low maintenance hands-off investment, that has a guaranteed rental income and is in a prime location. No concerns with tenancy in the future with this property.

This is a popular location in Hamilton that is in demand from both property owners as well as tenants. Close nearby to the Hamilton Central Business District. Within easy commuting distance of Waikato Hospital.

This property will be sold so you will need to make a time to look through it. Please call the listing salesperson Kevin Benge now of 0210666972 to avoid disappointment.

PLEASE NOTE: Specified floor and land area sizes have been obtained from sources such as Property Guru, Waikato Council (LIM) or Title documents. They have not been measured by the Salesperson or Online Realty Ltd. We recommend you seek your own independent legal advice if these sizes are material to your purchasing decision.