HUGE rental $1630! Return of 3.2% is HIGH!(this top area averagely is 2.78%). 3 income houses on 1 title.
Top schools(Westlake boys& girls, Takapuna Intermediate).Central Milford, can walk to Milford beach ,schools, hospital.
710sqm zoned mixed Urban (terrace house possible).
Either to rent out for HUGE rental, or live in one house and rent out other two to support loan of $1.55M or $2.98M!(Estimate at current rate).
3 income houses on 1 title, with separate power and water meter.
Front house has two units (both 2bedroom).Floor areas are 80sqm and 60sqm(Est).At back is 90’s house, 2 level,4 bedrooms, 2 bathrooms, lake and Rangitoto views. Floor area is about 100sqm.
Facts for price index: CV is $1.38M (year 2017). Council under valuated it by missing out value of 2 houses: Value of improvements (houses) shows $180,000, which was not enough value even for one unit. Valuation in 2018 was $1.785M. My purchase price was $1.582M in 2017, which was far below market value because no one else visited open home just before Christmas but previous owner had to sell it. This is to clarify any possible misguiding by mistakes and foggy figures.
Available: Title, LIM, Property file, valuation(2017).
Great potential are yours:
1).Sit on Goldmine, enjoy HUGE rentals.
2).Expand/Renovate for a more comfortable living & higher rentals.
3).Re-build 2 luxury houses or 3 to 4 terrace houses (Front part of driveway is part of this property while allows back neighbor to use, and existing storm water connection already serves 3 units (houses) even though connection is on neighbors site. Both are NOT obstacles for future development as per my lawyer & planner’s advice. You need to check with your advisors, and with Council.
$2,666,000.Neg.A smart buyer will identify this gold mine and hugely benefited from it!
Unit 1 has good tenants on fixed term till Feb.2021. They can be flexible for new owner.The current furniture may differ from what is shown in the photos.
View by APPT.Contact 0210792016. (Please mention “Milford sale”).