Features
- Double Garage
- Find a Property
- Residential
- Commercial
- Farm/Ag
- Rentals
ID#203738
Heretaunga
Upper Hutt
$359,000
3
1
2
100m²
(1,076.39 sq.ft.)
743m²
(7,997.58 sq.ft.)
proudly marketed by
Adam Cockburn
Lowe & Co Realty
INVESTORS - FAMILY HOME WITH OPTIONAL COMMERCIAL TENANT
266 Fergusson Dr, Heretaunga - $359,000.
3 + 3 Year Lease @ $500pw.
SOLID FAMILY HOME PLUS SOLID COMMERCIAL RENT!
Here's one with a slight twist for you!
As investors, lots of us prefer to stick to residential property. It's what we are familiar with, is has an affordable entry price, and the risks are easy to understand and manage. The idea of commercial property is appealing in theory... the yield is typically higher, and the tenants (once you've got them) are lower maintenance and look after your property better. But the entry price is often out of reach, and securing tenants can be difficult if the property falls vacant, meaning the void periods could kill us.
So, although commercial has a certain appeal, many of us stay with what we know, and miss out on the resulting higher yields.
Well, this property represents a "bet each way". A traditional residential family home... with an established commercial tenant paying significantly more rent than a residential tenant would.
* Address: 266 Fergusson Drive, Heretaunga, Upper Hutt City.
* Legal Description: Lot 3 DP 23316.
* Land Area: 743sqm more or less.
* Floor Area: 100sqm more or less plus garage 54sqm more or less.
* Bedrooms: 3 doubles, all with built in wardrobes.
* Kitchen: Large kitchen / diner, with quite modern laminate kitchen, and plenty of storage. Electric cooking.
* Bathroom(s): 1 spacious bathroom with a bath, separate shower box, vanity with fitted mirror, WC.
* Floors: Polished floorboards throughout, except vinyl in service areas.
* Heating: Gas heater in lounge, plus pot belly with wetback in kitchen.
* Electric hot water.
* Parking: Huge (54sqm) double garage with lock-up shed at the rear.
* Rental Income: Currently owner occupied. Owner will stay on as commercial tenant, paying $500pw inc GST on a 3 + 3 year term.
* RV (2007): $310,000 (Land $200,000 Improvements $110,000).
* Rates: $1,634.60 pa.
* Construction: Weatherboard, iron roof, mixed timber and aluminium joinery.
Contact Adam NOW for a full information pack.
Viewing by appointment only.
Keywords
Agent
Adam Cockburn
Lowe & Co Realty
Licensed Real Estate Salesperson (REAA 2008), Member of the REINZ
Hi, my name is Adam.
I love Wellington real estate! I caught the bug after reading a Dolf De Roos book in 1998, and bought my first property in Adam's Terrace, Aro Valley, just before I headed off to London for a number of years. I kept buying property, mainly in London and Auckland, whilst living in the UK, returned back to Wellington in 2005, and have been selling Wellington real estate since 2007. Having started out in sales during the biggest recession since the 1930s, this means that I have had to develop good habits from the start, to make sure I deliver the best service, and achieve the best results, for my clients when they want to sell their Wellington real estate.
I have lived in many different neighbourhoods, including Wadestown, Kelburn, Ngaio, Thorndon, Highbury, Rongotai, Miramar and Seatoun. Wellington is a great city and we should be proud of it. It is vibrant and alive, it is the cultural and coffee capital of the country, it is beautiful whilst also being an easy city to live in, due to it's compact nature.
So if you are looking to buy or sell Wellington real estate, give me a call. I will follow up every lead and turn over every stone, to make sure we achieve the best results possible together.
I look forward to working with you.
read more