West Auckland property with subdivisable potential

Client Brief: Wanted to start portfolio and had good purchasing power. Took our recommendation as to where and what to buy.

Purchase date: Dec 2009RV: $565k
Purchase Price: $545k – inclusive of our fee
Equity on purchase: $20k
Land: 1,153m2 – coastal
Dwelling: 3 bed, 90 s/m do up, plus large garaging/ office

Rent: $360 p/w

Background:
Purchased as a distressed sale. Strategic location given views of the Waitemata harbour and subdivisable potential. E+O project managed the renovation; internal paint, remedial building work; flooring, new kitchen fittings  – example of standard below. In this instance we had renovated and tenanted prior to settlement.