ANYONE WANT THIS 8.8% pre-tax PI in Auckland

[Laurie]

Folks,

If you are an investor that is looking for a good low maintenance cashflow property.. this could be the one.
134 Colwill Rd Royal Heights
3 incomes on one title.
Brick house - 3 bdrms, 1 lounge, 1 bathroom, sundeck
Unit A - 3 large Bdrms, ensuite, bathroom, lounge, european kitchen, dishwasher etc
Unit B - 3 large Bdrms, 2 lounges!, bathroom, dining, euro kitchen, dishwasher etc

Current rentals 310+330+330 = 970/wk ** 7.7% **

The magic here is to spend 10-15k and convert Unit B to a 2+1bdrm and Rents become 310+330+220+260 = 1120/wk **8.8%**

Price: $649000

Why selling?.... going overseas next year and parking some money into commercial

Laurie 02177143

[Heg]

Hi Laurie
Are all the units permitted by the council?.
I'm sure I enquired about this place some time ago when it was listed with an agent....Maybe it was a different street number?
Cheers
Jo

[whitt]

It sounds similar to one on trademe. Is that the one?

[Heg]

I thought it was the same one Whitt.

[drelly]

I've found a property recently that I thought may make a good conversion from a house into two flats. Does anyone know what sort of costs are involved with getting separate power and water to the second unit?

[Heg]

I think electricity may differ from area to area.
Someone once told me that you can get a water meter that is cheaper than a 'normal' one (but I can't remember what it was called ) It is linked to the main meter but only reads the units used for the second dwelling. Is that vague enough for you?
I would start a new thread to get a less 'non informative' answer than mine if I was you