For Sale $589,000

Relax and enjoy the cash flow from this five year new investment property with a lease in place at $898 per week or $46,696 for term of lease from Feb 2015 till Feb 2016, the current lease runs until February 2015 at $848 per week. Registered valuation by Knight Frank available dated 18/6/14 confirming the value at $600,000. Sited on a freehold title and located only 200m from Riccarton Road and centrally between the University and Westfield giving a strong tenant pool in any market.

The house has six double bedrooms, two bathrooms a centrally located living space with heat pump, each bedroom has a wall mounted TV, heated towel rail and panel heater and is fully insulated to modern standards with double glazing throughout. Being a standard rental agreement the tenants deal and pay all their own services directly with providers (power, phone, sky) meaning no surprise bills for you.

On the asking price the current return is sitting at 7.4% with a lift in Feb 2015 to 7.9% on a low maintenance property in a sought after location. A great location for an investor who is looking a newish property with a solid return.

Phone to view.