Dual Income! - 6.41% Return

Papanui, 67 & 67B Windermere Road

Attention all investors! Are you looking for an investment property with good holding income? Then buy this block of 1 x 3 bedrooms and 1 x 4 bedroom units on separate freehold titles.

  • 1 x 3, 1 x 4
  • 3
  • 0
  • Negotiable Over $799,000

Property Information

  • Listing #S1907
  • Legal description Lot 1 & 2 DP 437219
  • CT number 537949 & 537950
  • Land Area 171m² + 429m² = 600m²
  • Floor Area 128m² + 126m ² = 254m²
  • Land Zone RS, TC2
  • Land Value 67 - $145,000 67B - $255,000
  • Improvements 67 - $210,000 67B - $165,000
  • Capital Value 67 - $355,000 67B - $420,000
  • Rates 67 - $2,341.69 p.a. 67B - $2,705.63 p.a.
  • Parking Carports and off-street parking
  • 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.

• 1 x 3 bedroom and 1 x 4 bedroom Units • Separate freehold titles • 171m2 and 429m2 of RS, TC2 land • Good Holding Income.

Front: Built in 1970’s, Summerhill stone and plaster, two storey unit. Downstairs has modern kitchen, spacious and sunny living area with heat pump. One double bedroom. Bathroom with shower, vanity and toilet. Separate laundry facilities. Upstairs there is two double bedrooms with wardrobes. Bathroom with shower over bath and vanity. Double carport.

Back: Built in late1940’s weatherboard unit, modern kitchen, spacious living area with heat pump. Bathroom with shower over bath, vanity and toilet. Separate toilet and laundry facilities in kitchen cupboard. Four double bedrooms with wardrobes. Plenty of off-street parking.

Currently tenanted at $455 per week and $530 per week. Total of $985 per week = $51,220 per annum, showing a return of 6.41% on asking.

Situated in a great location close to Northlands Mall and Merivale Mall. Only a few minutes’ drive to the CBD, Victoria Street shops, restaurants and bars. Zoned for Papanui High, Heaton and Cobham Intermediate and Waimairi schools.

A great opportunity to purchase a small residential block. Ideal Home and Income or for any investor to add to their portfolio.

To view, call Braziers on (03) 377 7122

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Email Rebecca Manawatu about 67 & 67B Windermere Road

Email Neil McLaughlin about 67 & 67B Windermere Road