Situated in a beautiful part of town, right across from Lambton Square and just down from the river, this is a no fuss two-bedroom flat with a carport and low maintenance cladding and joinery. The unit is tenanted at $190 per week which presents a gross yield at 11%. It could be a good unit for a single family member, with very little grounds to tend to.
As it is the last flat in a block of four, it is set well back from the road. This cross lease property has a quarter share in the land, the land is defined and allocated to each unit in the memorandum of lease, so you do have a designated outside area that is just yours, and can be fenced off.
Rental properties are in high demand in Wairoa. It could be a nice addition to your rental portfolio or the first property to start it off! Rating Valuation is $63,000 (1/8/15) and current total rates are $2595.66 for the 2017/2018 year.
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