Do the maths, this 5 flat property is rented for $1,525 per week ($79,300 per annum) making the purchase price an absolute bargain. Located on a great corner site in a strong rental area, this is an awesome chance to own your investment property that is more than paying it’s way.
With interest rates around 4% this is a cash positive investment block with plenty more upside. It’s not all plain sailing though, the building needs some earthquake strengthening, but the good news is you have until 2029 to do this, allowing plenty of time to enjoy the cash flow.
This property will appeal to those who have the skills and funds to complete the works required. A preliminary engineers design is available to those who are interested.
5 happy tenants, positive cash flow. The owners are serious about selling, hence the price.