Cash Cow with a Car Park

Boasting two bedrooms, one bathroom and one separately titled car park, this newly renovated Volt Apartment is the perfect investment if you're looking to make bank while you sleep. The stunning transformation has new carpet, paint throughout and a beautifully styled kitchen. With an internal floor area of 40sqm (more or less) - source REINZ, this apartment is bank friendly and ready for its new owner.

Let's look at the numbers:

Rental Appraisal: $500 per week Furnished with 1x Car Park (the apartment is currently unfurnished) - that's a gross income of $25,000 per/annum.

Your Outgoings: Body Corporate Fees (cold water incl.): $4,373.32 (Unit) + $1,051.28 (Car Park) = $5,424.60 (includes 10% prompt payment discount)

Rates: $1,304.73 (Unit) + $148.83 (Car Park) = $1,453.56

Total Net Income: Based on 50 weeks occupancy to allow for vacancy: $18,121.84

With bank rates at record low levels, this super yielding investment will not sit around long, so I urge you to act quickly to capitalize.

This property would suit an owner occupier wanting to be in the heart of the city, working professionals or student studying at the local university.

The location, well this speaks for itself. Freehold, sitting right on the corner of Queen Street & Mayoral Drive you're just minutes' walk to practically anywhere in the CBD and City Fringe. Auckland University, Auckland Hospital, the new inner City Rail Link (once completed), will all be right on your doorstep. A location tenants cue up for, and landlords dream about.

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