Listed: Wed, 29 Oct

PASSIVE INVESTMENT WITH HIGH YIELD

116-118 Browns Road, Manurewa, Manukau City, Auckland

Price by negotiation

6+ Beds
6+ Baths
2031m² Land

Other Features

6+ Ensuites

Attribute	Value
Property type	House
Agency reference	912236
Apply Online	http://www.tmsandbox.co.nz/Browse/Jobs/ApplyOnline.aspx?mode=apply_online&referenceId=2149716554&sellerId=0

Barfoot & Thompson Commercial are pleased to offer for sale this purpose-built investment property in the Auckland suburb of Manurewa.

The development at 116-118 Browns Road provides purpose-built residential accommodation designed to meet the shortage of housing for individuals seeking one-bedroom units in South Auckland.

The property is comprised of five separate buildings, each containing 15 one-bedroom units with en-suites, 75 studio units in total, on 2,030m² of land in close proximity to Homai railway station. Each building is on its own separate title, creating an affordable investment opportunity.

The buildings are leased to Maranga Fanau Charitable Trust, a substantial private entity that works closely with the government through the Ministry of Social Development and other agencies. The organisation provides a range of essential services, including social housing, school mentoring, and elderly support. The lease is for 12 years at $312,000 per building. This is a fully net lease with outgoings payable by the lessee, other than rates and management fees, providing a net return of $269,000 per building.

This property offers hassle free income in a high demand market segment with a high yield.

KEY FEATURES:

12-year lease to Charitable Trust
$269,000 net rental per building
15 one-bedroom units per building
Fully managed
High yield - 7.75%
Buy one or more buildings
Vendor finance available to approved purchasers up to 75% at 5% interest rate

Open home times

No times scheduled

Property Files

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Request the files from John.

These property files are supplied by the agent and Trade Me Limited has no responsibility for the completeness or accuracy of the property files

Local Schools

IN ZONE homai school
89 Browns Road
355 m
Contributing (Primary), State, 397 enrolled
IN ZONE manurewa high school
67 Browns Road
579 m
Secondary (Year 9-13) (Secondary), State, 2292 enrolled
IN ZONE manurewa intermediate
76 Russell Road
1.2 km
Intermediate (Intermediate), State, 969 enrolled

OUT OF ZONE clendon park school
145 Rowandale Avenue
687 m
Contributing (Primary), State, 728 enrolled
UNZONED te wharekura o manurewa
119 Katikati Drive
758 m
Secondary (Year 9-13) (Secondary), State, 79 enrolled
UNZONED tkkm o manurewa
119 Katikati Drive
758 m
Full Primary (Primary & Intermediate), State, 119 enrolled
UNZONED st anne's catholic school (manurewa)
124 Russell Road
923 m
Full Primary (Primary & Intermediate), State : Integrated, 532 enrolled
OUT OF ZONE rowandale school
73 Rowandale Avenue
1.2 km
Contributing (Primary), State, 601 enrolled
OUT OF ZONE manurewa west school
Mckean Avenue
1.5 km
Contributing (Primary), State, 429 enrolled
UNZONED destiny school
25 Druces Road
1.5 km
Composite (Year 1-13) (Primary, Intermediate & Secondary), Private : Fully Registered, 66 enrolled
OUT OF ZONE wiri central school
Inverell Avenue
1.7 km
Full Primary (Primary & Intermediate), State, 330 enrolled
UNZONED clendon teen parent unit
28 Palmers Road
2.4 km
Teen Parent Unit (Secondary), State
OUT OF ZONE james cook high school
Dr Pickering Avenue
2.5 km
Secondary (Year 9-13) (Secondary), State, 1765 enrolled
UNZONED manukau christian school
77 Rogers Road
2.5 km
Composite (Year 1-13) (Primary, Intermediate & Secondary), Private : Fully Registered, 312 enrolled

While we've done our best to correctly list schools in this location, school zone information may not be exact, so please double check with the school.