111B Grand Drive Remuera, Auckland City

An upper level unit overlooking Waiatarua Reserve with north facing balcony. Here's a way to set yourself up in Remuera for next to nothing, or build your investment port folio and reap the rewards of a high return on your financial investment. Currently tenanted at $330.00 per week, so a good income for you is possible on this Cheap as Chips leasehold, priced to sell at less than 'Improvements Value'. Land lease is set to rise in November 2015 to 5% of the then land value - current cv land value is $220,000. There's an option to buy the lease from the Saint Johns College Trust, which would be purchased at the current land value as done by a registered valuer, with all three unit owners agreeing to the purchase. The current lease is set at just $3,200 per annum ($61.50 per week) and runs to November 2015. So do the figures on this for the next 3+ years. It may prove better for you than taking out a mortgage on a freehold property in this top location. It's sunny, elevated with a pleasant outlook and has its own carport. Yes the lease will increase in 2015, but the rent return is strong.