Top area Milford! 3Legal Home Income! Goldmine Urban! Westlake Zone.
HUGE rental $1630! 3 LEGAL INCOME houses,1 title. HIGH 3.8% return!(this top area average is 2.78%).
Top schools(Westlake boys& girls, Takapuna Intermediate).Central Milford, can walk to Milford beach ,schools, hospital.
710sqm zoned mixed Urban (terrace house possible).
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 2017 was $1.785M. My purchase price was $1.582M in end 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.
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 connection is on neighbors site. Both are NOT obstacles for development as per my lawyer & planner’s advice. You need to check with your advisors.
$2,286,000.Neg.Smart buyer will identify this gold mine and hugely benefited!(Pls refer to 53Forrest Hill Road sold $2.27M to compare rental and land potential to see this goldmine’s outstanding value).
Unit 1 has good tenants on fixed term till Feb.2021. Can be flexible for new owner.
Contact 0210792016. (Pls mention “Milford sell”).