A 5.5% gross return makes this legal home-and-income a rarity in 'blue chip' Mt Eden.

The freehold property consists of two separate tenancies together bringing in around $111,000 per year. With a registered valuation of $2.2 Million (April 2016), this property offers over $150,000 instant equity for the new owner. 

The 1920's bungalow has been recently renovated and consists of 6 bedrooms, 2 bathrooms, study or single bedroom plus large open plan living.

The smaller dwelling consists of 3 bedrooms, 1 bathroom and offers a well presented and cosy interior.

Some Key Points:
The 'Main House' is currently rented for $1495/w (including water) - fixed until Feb 2018
The 'Side Unit' is currently rented for $690/w (including water) - fixed until Feb 2018
Both the occupancies have off-street parking for 2 vehicles each
Capital gains of 220% over 9 years of current ownership (more than triple growth)
Rental growth of 44% over the last 4 years
Close to Kingsland train station, bars, restaurants and Eden Park
High demand from young professional tenants
Potential to split the property into two separate strata titles
New roof in the last 3 years with room for further exterior improvements

Being surrounded by beautiful properties, adjacent to Eden Park and just a short commute to the CBD, we predict a great future for this historically resilient and popular area.

To find out more or arrange a viewing please contact Hamish on 022 099 6849.