See Similar Listings
Real Estate and Homes   New Zealand   Wellington   Wellington Area   Condo   1 BR -

Residential Apartment For Sale In Wel...

Colin Rooney

This listing was posted on RealtyWW.


Residential Apartment For Sale In Wellington City, Wellington

1 BR, 1 BA
8f/242 Taranaki St, Newtown, Wellington

Looking for a great investment where your money grows quicker than the banks? A studio unit is now for sale in Wellington's Massey University student accommodation building known as 'The Cube'. A great entry level for a new property investor, no work and fair returns. Current monthly transactions:Gross Monthly Rent: $1,064.37 Management Charges: -$39.08IMF: -$31:50 (unit insurance cover)Body Corp: -$235.68Council Rates: -$55.00Net Monthly Rent: $703.11 Massey University manages the tenancy throughout the full calendar year. They determine the income across the whole complex and divide it up each year according to the number of bedrooms for each flat so there is always a regular monthly rental payment spread over the whole year. They manage to keep the occupancy rate above 95% over the whole block. There is a very well run accommodation office with an efficient manager who oversees all supervision, maintenance and upkeep of all the units. Priced at $145,000. That's a 8.8% gross yield, 5.8% after all expenses are paid. There is an annual review of market rents and next year the gross income is to be increased. The accommodation block offers lots of communal space, a washer & dryer area, a rumpus room and a common area with a pool table and TELEVISION. For more details check out Massey's accommodation website; Some useful YouTube videos showing the culture and vibe at The Cube; more details:
Property Type:
Condos, Townhouses & Apts for Sale
July 12 on RealtyWW
Visit Our Partner Website
This listing was posted on another website. Click here to open: Go to RealtyWW
Important Safety Tips

These might be signs of fraud:

  • Really cheap prices
  • Irregular email adresses
  • Contact info in pictures

To learn more, visit the Safety Center or click here to report this listing.