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Property DetailsCheck out the opportunities here. Situated in the golden circle of Papatoetoe on St George Street are these brand new 9 bedroom rental investment properties. Zoned for all the right schools in Papatoetoe, walking distance to the shopping mall, handy to the Manukau CBD, MIT, AUT, Middlemore Hospital and the airport. This location ticks a lot of boxes for anyone looking to invest in this desirable suburb with a close proximity to the sports club, swimming pool, schools, shops and motorways. Each block comprises 9 individual self-contained bedrooms and a common kitchen and separate Laundry room facilitating the tenant's need. These properties are fully fenced and access is through the security gate which only tenants have access to. The site is covered by CCTV cameras for added security.All blocks have 9 year fixed-term tenancy with LJ Hooker through a commercial lease, with 2 x 6 years right of renewal, potentially securing it to 21 years in total. This guarantees that you don't miss a day of rent and you avoid the hassle of individual tenants. All rooms and common area in each building are fully furnished with modern and comfortable furnishings by the Lessee LJ Hooker. Each block generates a NET income of $90,000 per annum, which means that the tenant meets all maintenance costs, body corporate costs, insurance, outgoings.....everything. What an amazing deal!These blocks would be ideal for investors who are looking for a place to invest with a return of approximately 5.8% on investment. Call us NOW to view the property! Some of the six blocks are already under contract, please do not wait!Viewing by Appointment only. Website: www.acaportfolio.co.nz/st-george-street-papatoetoe
Additional Property InformationThis single family listing located at Pu4/244-24 St George Street, Papatoetoe, Auckland offers nine bedrooms and nine bathrooms. The property is currently offered at $1,110,550.
This property is listed by Shailendra Kewal of Barfoot & Thompson based in New Zealand.