Positive Cashflow in GREY LYNN

Units B & C, 36 Scanlan Street, Grey Lynn, Auckland

Property Details

  • Type
    Unit Title
  • Location
    Grey Lynn, Auckland
  • Price
  • Rental Income
    $1,200 + $1,200 per week
  • Yield
  • Bedrooms
  • Bathrooms
    2 + 2
  • Carparking
    Off Street Parking

Positive Cashflow in GREY LYNN

This fantastic opportunity meets a bunch of time-tested investment rules, offering an investor strong rental demand, a superb positive cash flow, instant equity; and possibly the best draw card of them all, excellent capital growth potential.

On sale are 2 units located at 36 Scanlan Street in Grey Lynn. With a total of 4 units in the complex and offering low body corp fees relative to rents you can be sure your low maintenance investment is being run efficiently while you collect the lion's share of the rental.

Sitting in the popular suburb of Grey Lynn these units have experienced massive capital growth over the past 8 years. With a current NET yield of approximately 5.7% and instant equity from day one, this positively geared property investment really ticks some big boxes!

Here are some key facts:

  • Unit B (6 bedrooms and 2 bathrooms), Unit C (5 bedrooms and 2 bathrooms)
  • Asking $1,945,000 for both units representing an attractive 5.7% NET return
  • Valuation as at March 2016 (14 months ago) for both units combined at $1,970,000
  • Rental Return: $1,200 per week (Block B) and $1,200 per week (Block C), fixed until Feb 2018
  • Just 5 minutes’ walk to Ponsonby Road
  • High demand for young professional tenants
  • Low maintenance construction and relatively inexpensive body corporate
  • Rates ($2,692 each) and Body Corp ($4,240 each)
  • Open to the possibility of selling separately

Reach out to Hamish to talk through this opportunity more, to request more information or to arrange a viewing.


Email Hamish Anderson

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