BUY, RENT, LANDBANK, BUILD!
An amazing opportunity to buy this property, to continue collecting rent of $1,040 per week, to landbank the site and to build on the section at a later date.
The 617 sqm section is zoned high density by the Hamilton City Council. Situated in an excellent location on Beaumont Street. Only a few minutes walk from Waikato University which is located on Knighton Road. An ideal location for future building development close to the University.
Located on the site currently are two houses. The first is a 1960s brick and weather board house consisting of four bedrooms, one kitchen, one bathroom and two toilets. The second, a later addition, consisting of two bedrooms, one kitchen and two bathrooms. There is a single garage and off road parking for up to six vehicles.
The brick and weather board house is rented at $620 per week on a fixed term tenancy until 17th February 2023. The more modern house at the rear is rented at $420 per week on a fixed term tenancy until 6th January 2023.
The rental appraisals, prepared by Ray White who property manage both houses, are $620-$660 PW for the older home, at the front of the site, and $420-$450 PW for the newer home at the rear of the property.
There is the opportunity to start planning and to work with Council to obtain the necessary permits and consents to be able to build new properties on this site. Take advantage of the new build tax incentives to build investment properties to on sell.
Please call the listing salesperson Kevin Benge now of 0210666972 for further details on this property.