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Colin Rooney
Bayleys Real Estate - Wellington Residential
Hands off Investment – Easy Money!
Looking for a great investment where your money grows quicker than the banks? A 5 bedroom apartment 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. Being on the 3rd floor, and facing north, the apartment gets sun and views over Wellington Central. Current monthly transactions: Gross Monthly Rent: $2,827.81 Management Fees: -$103.28 IMF: -$78.75 (apartment insurance cover) Body Corp: -$1372.83 ** Council Rates: -$125.62 Net Monthly Rent: $1147.86 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. Massey University lease expires on 31st December 2023. This property cannot be occupied until lease expiry. Priced at a buyer enquiry over $359,000. ** The BC fees increased recently to undertake some major jobs in the building over the next 12 months. Viewings by appointment only. Grab this opportunity now. Call Colin for a private viewing 0273210085. The accommodation block offers lots of communal space, a laundry room, a rumpus room and a common area with a pool table and TV. For more information check out Massey's accommodation websites; Some useful YouTube videos showing the culture and vibe at The Cube;
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Upload by David Garratt
Wellington Central/North