9/201 Massey Street Frankton, Hamilton City

This large 96 sqm Unit is the ideal investment for an astute buyer. A guaranteed rental income whether the property is vacant or tenanted.

The lease payment received from Kainga Ora is $1,738 per month (net). The rent is reviewed annually as per the Lease Agreement with Kainga Ora and adjusted accordingly. The next CPI adjustment to the lease payment will be in May 2024. The lease with Kainga Ora runs until 4 May 2025. Kainga Ora both select the tenant as well as property managing them. The Body Corporate covers external repairs and maintenance. The Body Corporate General Levy is $778.80 per year and the Building Insurance Levy is $930.73 per year.

A great opportunity for a astute investor looking for a low maintenance hands-off investment, that has a guaranteed rental income and is in a prime location. No concerns with tenancy in the future with this property. Close proximity to the Hamilton Central Business District. Also only a five minute drive to Waikato Hospital, who is the largest employer in the Waikato, ensures on going access to good quality tenants.

This property will be sold so you will need to make a time to look through it. Please call the listing salesperson Kevin Benge now of 0210666972 to avoid disappointment.

PLEASE NOTE: Photographs are virtually staged for marketing purposes.

Specified floor and land area sizes have been obtained from sources such as Property Guru, Hamilton City Council (LIM) or Title documents. They have not been measured by the Salesperson or Online Realty Ltd. We recommend you seek your own independent legal advice if these sizes are material to your purchasing decision.

According to the IRD, as the property's sole purpose is for social housing and it is leased to a government department Kainga Ora, then the owner can still claim interest deductions (Purchasers should confirm this with their accountant or solicitor before proceeding further with this property).