212 Ulster Street HAMILTON CENTRAL, Hamilton City

Located within walking distance and on the main bus route to the CBD, this 2 level property offers easy access to supermarkets, shops, river walks and sporting event centres. Ulster Street is Hamilton's 'Motel Mile' and is recognised as a Blue Chip Investment location.

Being formally part of the 'Southern Cross Motel' complex (which still operates on the northern side of 212 Ulster Street) this property offers semi furnished accommodation which has proved popular with tenants.

Prospective tenants who view the interior agree that compared to other rental accommodation that this is of a very good standard. With off street parking, a coin operating laundry system, north facing units and a warm decor you can see why it is a very sound investment, an investment with potential to grow.

What The Property Offers:

Unit 1: One bedroom $200 per week income
Unit 2: One bedroom $200 per week income
Unit 3: One bedroom $200 per week income
Unit 4: One bedroom $180 per week income
Unit 5: One bedroom $200 per week income
Unit 6: Two bedrooms $250 per week income
Unit 7: Studio $180 per week income
Unit 8: Studio $160 per week income
Unit 9: Studio $180 per week income
Unit 10: Studio $170 per week income
House Four bedrooms $290 per week income

Total Weekly Income $2210

Chattels:
All the units are chatteled including:
Beds
Television
Sofa
Table and chairs and various other chattels

Outgoings:
Built into the weekly rental income is a cost for electric power and gas hot water.
Electricity: $4625.20 12 months from April 2007/March 2008
Gas: $2711.12 12 months from April 2007/March 2008
Rates: $4932 includes Environment Waikato Levy

Extra Income Opportunity:
Resource consent has been approved to build 2 further units within the existing building structure.
The consent is for a 1 bedroom unit and a 2 bedroom unit.