An urban living alternative, located in an elevated setting, 24 Strong Street consists of an upper level 3 bedroom home + study with views towards Half Moon Bay and beyond. The living has a spacious feel and leads to a large covered deck. The floor plan also offers a very roomy combined bath / laundry area with separate toilet, shower room and bath.
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The lower level consists of two 1 bedroom income producing units; each with their own laundry and private outdoor courtyards. The property also has the convenience of two separate driveways, ample parking and a level rear yard.
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Built in the 60u2019s this property evokes a classic mid-century design with aluminum floor to ceiling windows, polished timber floorboards and clean lines. The home and units are move in ready but with potential for you to add your own flair.
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So here are the details to assess your optionsu2026 Live upstairs and offset the Leasehold annual ground rent of $13,950 with the rent from the 2 x one bedroom units; (current written rental appraisal of $290pw and $320 pw with an annual income of $31,720 (excluding rates and insurance). OR rent all 3 dwellings (upstairs 3 bedroom has rental appraisal of $520pw with the grand total rental income of $58,760. Thatu2019s a current potential yield of nearly 11%
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The 21year lease has perpetual rights of renewal with 7year reviews in July 2015 and 2022.
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The current 21 year lease is due for renewal in 2029
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Currently St Johns Holdings state 21 year leases with 7 year reviews are 5.75% of the total unimproved land value as determined by an independent valuer commissioned by St Johns Holdings at the time of any rental reviews.
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Conveniently located close to Glen Innes train station and shopping centre as well as Auckland University Tamaki Campus, Selwyn College and in zone for Stonefields Primary. On the bus route there is easy and convenient transport into Britomart, Mission Bay, Sylvia Park and beyond.
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NB: The first 11 photos showing are of the 3 bedroom upper level home ( the first photo you see is the exterior for all 3 dwellings and photo 3 is part of the rear yard that the upper level over looks). The next 8 are of the downstairs one bedroom unit which has the same floor plan as the other downstairs unit.
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Call me to chat about your options and make your appointment to view.
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