Cash Generator: 5.5% Net Yield

88 Mount Royal Avenue

3

1

5

3

1

5


share

Marketed by Angela Saunders

Cash Generator: 5.5% Net Yield


88 Mount Royal Avenue

Mount Albert, Auckland

Sold - 12.04.2019

Marketed by Angela Saunders

Here's a residential property with a commercial twist. Legally converted to a child-care centre a few years ago, it offers a net return of $67,000 pa. That's NET. Because the tenant pays the outgoings, including the rates and insurance, and that leaves more money for you and makes this better than your standard house rental.

There's a way to go on the lease and that means you can sit back for now and count the cash. Later, you might look at re-conversion to a family home or redevelopment of the 750m2 site, zoned Mixed Housing Urban. Or you might renegotiate the existing lease and stick with a good thing.

The current owners already have their next move underway and invite you to tell them what purchase price works for you. No. 88 is good fortune in Chinese culture and this is a proposition that makes a lot of sense.

Property Details

Suburb stats

Property ID PON26450

Category
House
Status
Sold
Bedrooms
3
Bathrooms
1
Garaging
1
OSP
4

Features

Exterior

Garden, Terrace / Balcony

Other

Close To Schools, Close To Shops, Close To Transport


Floor Plan



Local Schools

* While every effort has been made to ensure the information displayed is accurate, please check details directly with the school before making decisions based on this information.

Primary
Intermediate
Secondary
Owairaka District School - 180m away
Years 1-6
Co-ed
113 Richardson Road
09 846 5091


Kowhai Intermediate - 3.7km away
Years 7-8
Co-ed
26 Onslow Road
09 846 7534


Mt Albert Grammar School - 1.3km away
Year 9-15
Co-ed
36 Alberton Ave
09 846 2044



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Send an enquiry about this property to the agent


Angela Saunders


Licensee Agent

Mobile: 021 448 900

Phone: (09) 376 2186


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Suburb Stats

Mount Albert


Median sale price in April 2019

$1,000,500

19% last month
17% same time as
last year

Monthly Trend

Total Sales in April 2019

57% last month
22 sales
10% same time as
last year

Monthly Sales