Auckland Central - First Home / Kids at Uni / Rental Investment

Description

On offer here at THE DOCKS is a very affordable, spacious 2 bedroom, 2 bathroom apartment with balcony and 1 secure carpark located in the heart of Auckland CBD. With a fully appointed kitchen and large open plan living/dining you will enjoy inner city life without compromising on space and privacy. All whiteware and some furniture included in the sale.

The Docks is conveniently located close to Britomart Square, you're spoiled for choice with bars and restaurants, supermarket and the Queen Street shops all within short walking distance. Or hop on the train, bus or ferry network to take you further. The building is very well maintained and managed by an active Body Corporate Committee and resident Building Manager.

The Vendor has owned this apartment and run it as a rental investment since the building was constructed in 2007. Currently rented at $700pw they have enjoyed 100% occupancy with increasing rental returns Year on Year. Periodic tenancy ( 90 days notice required for vacant possession)

Leasehold Tenure: Lease Term 150 Years from 1996. Ground Rent is reviewed every 7 years. Next ground rent review is August 2025.

Why buy LEASEHOLD? Leasehold properties are significantly cheaper to purchase than buying a freehold equivalent, you own the building but not the land. You are still free to make interior improvements to the apartment.

Don't pay Rent! Perfect for first home buyers with perhaps some help from mum and dad or parents looking for an affordable option while their kids are at university. Alternatively this apartment offers investors a very good rental return.

Property Expenses:

Body Corporate Levy including ground rent - $16,640 per annum. Levies are invoiced quarterly.

Council Rates - $1,983

Total expenses $358pw

Note: Photos used are not this apartment but from another that is similar in the same building.

Sally Giles: 021 764 356

View on-line at www.barfoot.co.nz/859058