UP TO 8.5% YIELD!! SUPERB CITY FRINGE LOCATION!!

VENDORS' INSTRUCTIONS ARE CLEAR - WE WANT THIS SOLD.

AT THIS PRICE, THIS APARTMENT IS GREAT BUYING, REPRESENTING UP TO 8.5% YIELD ON PROJECTED MARKET RENT.

Low Maintenance & Affordable Entry Level Investment, or the perfect apartment for your kids at university.

"Location location location" - probably the three best known words (or is it one word?) in real estate! And this couldn't be truer for this little apartment. If you want something in high demand location, but you don't have the big budget normally associated with it, this one is for you. If you want low maintenance, and you are not bothered by "unglamourous", then this one is for you. If you want low effort and low risk investment in the heart of the capital, then this one is for you.

Any way you look at it, this is a tidy property with a healthy income and great track record.

* Address: Apt 14, 3 King St, Mt Cook, Wellington
* Legal Description: UNIT 14 UP 314970 1/14 SH IN AUR1
* Land Area: n/a - unit title
* Floor Area: 54sqm more or less
* Bedrooms: 2 doubles with built-in wardrobe organisers
* Bathrooms: 1 bathroom - shower, WC, hand basin
* Laundry: Communal coin operated. Maintained by Body Corporate
* Furnishing: The apartment comes furnished, including beds, white ware, lounge suite, bar stools etc
* Parking: Residents parking on the street
* Rental Income: Currently rented at $320pw until 19th Feb 2010
* Market rental: Assessed at $360pw and the apartment was previously rented at that exact level
* Tenants: Current tenants vacating 19Feb. New tenants will be secured at market rates.
* RV (2009): $235,000 (Land $86,000 Improvements $149,000)
* Rates: $956.74 pa
* Body Corp: Approx $2,220 pa ($185 monthly)

This building was built as student accommodation. It comprises 14 apartments, all of which are 5 bedroom units except this one. This one (Apt 14) was originally intended to be used as a caretaker / manager residence but it was found to be unnecessary, so it was sold to a private investor. Therefore this apartment, being different from all the rest in the building, has something to set it apart from all the rest. There is no chance that another 2bed apartment in this building comes to the market at the same time that yours does, because there simply isn't another one!

Also unlike all the other apartments, apt 14 is the only one to our knowledge that is rented to professional tenants.

The solid construction means that maintenance costs have been extremely low for this apartment, which all translates to improved cashflow for you!

Whether you are looking for a low-risk, good return entry level investment in a fantati location, or if you have kids going to university and you want to control where they are living, this one is perfect for you.

Viewing by appointment only.

Contact Adam for a full information pack or to arrange a viewing.