INTEREST DEDUCTIBLE- SOCIAL HOUSING!

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According to the IRD, as the property's sole purpose is for social housing and it is leased to a government department Kainga Ora, then the owner can still claim interest deductions. Purchasers should confirm this with their accountant or solicitor before proceeding further with this property.

Income from the property is guaranteed, whether occupied or vacant, through a lease with Kainga Ora. The lease with Kainga Ora runs to 5th April 2025. Kainga Ora arrange the tenant and property manages them as well.

The lease payment received from Kainga Ora is $1,914 (net) per month. The lease is reviewed by Kainga Ora in December each year through a CPI formula and the lease payment adjusted accordingly.

There is no Body Corporate Levy as there is no Body Corporate in place for this property. Hamilton City Council rates of $2,075.03 per year and Waikato Regional Council rates of $431.95 per year apply.

A rare opportunity to purchase this 100 sqm two-bedroom free standing brick and tile home situated on its own 300 sqm freehold title. Situated in a quiet and secure location well back from the road in the heart of Hamilton East.

The property was constructed in 2010 of modern low maintenance materials. A colour tile roof, brick and double-glazed aluminium joinery throughout. The property is in excellent condition and has had the one owner since new.

This property will be sold so you will need to make a time to look through it. Please call the listing salesperson Kevin Benge now on 0210666972 to avoid disappointment.

PLEASE NOTE: Specified floor and land area sizes have been obtained from sources such as Property Guru, Waikato Council (LIM) or Title documents. They have not been measured by the Salesperson or Online Realty Ltd. We recommend you seek your own independent legal advice if these sizes are material to your purchasing decision.