MT VICTORIA – BLUE CHIP INVESTMENT

  • Sale
$3,300,000 / Fixed Price
Address: 8B Lipman Street Mount Victoria
  • 6 Bathrooms
  • 14 Bedrooms

Property Information

  • Type: Apartment
  • Bedrooms : 14
  • Bathrooms : 6

Property Description

Very rarely does the opportunity arise to purchase 3 spacious apartments with 3 car-parks all on 1 title in such a sought after location!
With an NBS of 90% and a 5.4% NET return this is definitely a self-funding investment.
With future opportunities to add further bedrooms, this is one of the finest investments in the city end of Mount Victoria we’ve seen for a long time!

The Facts:

– 6 Bedrooms + 2 bathrooms + 2 showers….200 sqm approx

– 5 Bedrooms + 2 bathrooms + 2 showers….190 sqm approx

– 3 bedrooms + 1 bathroom + 1 shower……120 sqm approx

– 3 secure car parks

– Floor Area 508sqm approx

– Combined rents: $4,020 per week. Annual Gross Income $209,040

– Body Corporate Levy: $22,684 p.a includes Building Insurance and a 1 year loss of rents

– WCC Rates: $8,278 p.a

– Fire alarm maintenance $552 p.a

– NBS minimum 90%

At a Glance

Income $209,040 p.a

Expenses $31,514 p.a

Total $177,526 p.a net return

Asking price of $3,300,000 gives you a 5.4% net return on investment

With the OCR now the lowest it’s ever been, why lock your capital away in low interest-bearing accounts or the uncertainty of the share markets? Its common knowledge that there is a critical shortage of rental accommodation in Wellington. With the population of Wellington set to increase in the short to medium term, this will increase the desirability and value of this type of real estate.

R.V $2,275,000

For a full information pack and to arrange a viewing call Chris Yiavasis on 021499350.

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