42 Felton Mathew Avenue, Saint Johns, Auckland

SoldJun 30, 2021

42 Felton Mathew Avenue, Saint Johns, Auckland

Amount undisclosed

291 m²

607 m²

House

•

30+ days on the market

Sold: Jun 30, 2021

What's around 42 Felton Mathew Avenue

Do the Sums - An Investment Bonanza

Viewing by Appointment Think outside the box for the concept and inside the box for these four two-bedroom units on leasehold St Johns Holdings land neighbouring Meadowbank. This isn't just real estate 101 for savvy investors, it's an avenue to the money pit and you and your accountant are going to be smiling all the way to the bank. Generating you a gross annualised rental return of over $90,000, if you have the cash, subtract the ground rent costs of $14,950 p.a (only $72 per week for each unit) and other expenses and you are looking at an estimated net yield of 17%. For those borrowing, the numbers are still looking mighty fine. There is scope to upgrade to increase your return and the lease is expiring in January 2027 where you will have a right to renew for another 21 years. All run to a similar floor plan with the ground floor units 1 & 2 having the bonus of external access from the lounges to a private exclusive use patio. Upstairs flats 3 & 4 have the benefit of their sunny elevation with one a covered deck. With ample parking, attracting tenants is also easy when the location is pivotal. Handy for public transport, Glen Innes shopping precinct, Apirana Reserve and of course the gorgeous eastern bay beaches, this extraordinary investment opportunity is offered by motivated vendors ready to move on with other plans. For more information, call John & Jane on 0800 WANT SOLD (0800 926 876)

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Seller's review

almost 5 years ago

Verified Review

Exceeded our expectations!

We had the most amazing experience working with Jane and John. They were so prompt with all communications, great with explaining the unknown to us and sold a property which felt impossible to sell. We’re so happy with them, we’re going to use them again to sell another property. Highly recommend Jane and John. We only wish we had found them sooner than we did but better late than never.

Seller