1-15/169 Chapel Road, Flat Bush, Manukau City, Auckland

Opportunity to secure an affordable investment that forms part of a well-presented new multi-unit development in close proximity to Ormiston and Botany town centres. These brand new five bedroom units are being sold furnished with a nine year commercial lease in place that will return approximately 5% per annum. These investment units benefit from having a government-funded community housing provider managing the tenants making them a passive investment property. They will also benefit from any capital gains that the residential property market has enjoyed in recent years.

There are only 10 of 15 brand new Freehold unit titled apartments still available. Each unit (132m²) has five studio apartments of approximately 20m² all with ensuite and kitchenette plus communal kitchen/lounge/laundry.

The commencement rent for each apartment lease is $90,400 per annum which will offer an attractive investment return of approximately 5.0% net after the deduction of body corporate levies and rates. The lease allows for a rent increase of 1.5% per annum for the first five years.

KEY FEATURES:

• Stratum Estate in Freehold
• Estimated annual net rental per unit - $83,447 plus GST
• Floor area approximately 132m²
• Five bedrooms
• Five ensuites
• Annual rates and Body Corp - $6,953 (which will vary from year to year)

If these investment apartments are of interest please contact us. This opportunity will not last!