A property purchase story – achieving a gross yield of 3.45%

29 William Ave, Manurewa was secured on behalf of our clients through an auction process with the purchase price of $902,500 in July. The 1960’s-built weatherboard home with open plan living comprises of three bedrooms, one bathroom and one separate garage presented in tidy condition.

The property had established tenants who wished to stay on. Our clients signed up with our sister company Point Property for property management services, enabling this option to be considered within the scope of our services. After Point completed the necessary checks and balances around current tenants’ suitability, the tenants are still staying and they will start a new tenancy agreement commencing the day after settlement.

Our clients benefit from no vacancy at settlement and a return on their investment from day one. Rent per week is $600, providing our clients with a gross yield of 3.45%.