Brilliant entry level investment or town pad

Well located two bedroom unit in a complex of four in an affordable price bracket.

 

Edgeware, 2/137 Champion Street - ref #S1842

  • Offers Invited
  • 2 Bedroom/s
  • 1 Bathroom/s
  • 1 Garage/s

Property Information

  • Listing #S1842
  • Legal descriptionLot 1 Deposited Plan 19248
  • CT number CB19F/505
  • Land area Share in 746m2
  • Floor area 60m2
  • Land zone Residential Suburban Density Transition, TC3
  • Land value $100,000
  • Improvements $135,000
  • Capital value $235,000
  • Rates $1,575.41
  • ParkingSingle garage
  • The above information has been supplied by either the vendor* or by outside agencies like CCC, LINZ, Property Guru, etc. Accordingly, Braziers is merely passing over this information as supplied to us. We cannot guarantee its accuracy and reliability as we have not checked, audited, or reviewed the information and all intending purchasers are advised to conduct their own due diligence investigation into this information. To the maximum extent permitted by law Braziers does not accept responsibility to any person for the accuracy or use of the information herein.
  • If you are going to start your property investment journey then one of the fundamentals is 'location, location, location' as they say. To have a versatile investment property it is useful if it is located close to areas of employment and other attractions, as tenants need a reason to live there. This unit is located approximately 3.2km from Cathedral Square and is also only 1.1km from Edgeware Village. This means there are plenty of attractions within a very short distance. This sunny north facing 60m2 unit was built in the 1970s (as many similar properties were) and has stood the test of time. It is rented on a fixed term tenancy until 02/02/20 at a realistic $309 per week. The current median rent for the area and upper quartile (courtesy of Tenancy Services) is $310pw and $340pw respectively. The unit is generally presented in a tidy condition, but there is scope to enhance further with the right touches internally and externally to add value to the investment. The vendors are realistic and we would expect a gross yield in excess of 6% to be achieved based on a sale price around the mid $200,000s. This relates well to the current low interest rate environment where borrowing rates are presently in the low 4s. Great first investment or ideal option to add to your existing portfolio. An information pack is available upon request and viewings are strictly by appointment.
  • View Map

To view, call Braziers on 377 7122

Michael McCormick

Braziers Limited MREINZ
Licensed Real Estate Agents
0275 30 20 70 (Mobile)
(03) 3777 122 (Office)
(03) 3777 120 (Fax)



The Real Estate industry recommends that, prior to making an offer on any property, prospective purchasers first seek their own legal advice. Any reference to yield or annual return is shown on a 52 week basis.  Third party information from local authorities etc should be checked independently before being relied upon for accuracy.