Description

SOLD

This is a real opportunity that will give you a real income. Situated on one freehold title and all under one roof we have 4 x 3 bedroom apartments on offer. Demand for rental property has never been higher, rents are record high and inventory is super low. Kawakawa is booming with recent town upgrades and increased demand for this central Bay of Islands location. Drive times approximately 10 mins Opua, 15 mins Paihia, 30 mins Kerikeri & 45 Mins Whangarei.

Recently renovated, exterior painted & roof refurbished. These apartments are insulated, will have brand new heat pumps fitted prior to settlement and comply to healthy homes standards. Building permits & Code Compliance Certificate in place. Each of the apartments are similar in design. Living downstairs and bedrooms upstairs. Some of the interior is dated giving the opportunity to add further value.

Located right above the Bay Of Islands Vintage Railway and a short walk into town to access all the shops and cafes including the world famous Hundertwasser Public Toilets and the newly launched Te Hononga Hundertwasser Memorial Park & Public Library which is the centerpiece of Kawakawa.

Current owners rented an apartment here in 1975 as their first home. Purchased the complete block 20 years ago as an investment and are now looking to relocate to Australia for family reasons after spending their entire lives in the Kawakawa region.

There is nothing on the market to compare. Rental appraisal of $375 per week per unit, that’s $78,000 gross, per annum. Interest rates have never been lower making money cheap to borrow, and with term deposits unable to keep up with inflation this is amazing opportunity.

Contact your local agent Mark Woolley for info & viewings. LIM report & FNDC property file available.



If you would like a free appraisal on your property before putting it on the market, contact us today.