In 1929 a local farmer built this property specifically for his two daughters to live side by side in a separate two bedroom unit each. Unlike the usual character home being chopped and changed into two units this property was built as two by twos from the start. Easy to tenant this investment would have had full occupancy in the last year if it wasn't for our friend covid 19. With an actual rent return of $29,108.57 (should have been $32,000.00 ) and excellent tenants this is a great investment with the bonus of having only one lot of rates. Paeroa is about half way between Auckland and Tauranga, and acts as the southern gateway to the Coromandel Peninsula as well as the western gateway to the Bay of Plenty. With a population pushing 5000 there is continual growth with people moving to the town for retirement and a more affordable lifestyle. The current tenants are keen to stay and keep both units in pristine condition. This property is seriously for sale and the vendors are realistic with their expectations. You do the sums. Possible 6%. Positively Paeroa.
Section 7-8, Block XXIX Town of Paeroa
Weatherboard - Timber
607 square metres (approx)
160 square metres (approx)
Fixed Floor Coverings, Curtains, Light Fittings, TV Aerial, Stove - Freestanding Electric
*Please note: the floor area and property information was sourced from Property Guru and/or LINZ.