Astute Investors Only - 8 Scotia Place
8 Scotia Place, Auckland Central
Sometimes problems are actually your best opportunity.
At 8 Scotia Place there is upcoming remedial work is set to commence in 2018.
Located down a private street overlooking green and leafy Myers Park, with a park view and a development on each side of the road, future values could go through the roof. Added to that you have very low body corporate fees and rates and a Freehold title. This little stunner is peaceful and private but minutes to transport, Universities, amenities and the CBD. The current tenants love the apartment, look after it and its contents like their own.
30m2 1 bedroom (floor area set to slightly increase after works completed)
Body Corporate levy $3000 - TBC
Rates $1000 - TBC
The owner requires a prompt sale, as such he is leaving room huge room for potential profit after remedial costs.
With the current average sale price in the city of $8,000 to $10,000 per m2 and new developments heading toward and past $15,000 per m2, try this at $4,500 per m2.
An approximate 9% Nett return at purchase and much higher after remedial levy paid and works complete.
One of the best opportunities on the market.