Offer Accepted 11 March 2023, Settled January 2024

4 Tiri Road, Manly, Auckland

Purchase Price

Purchase Price

$497,000

Investment Return

10% per Annum

Term

6 Months

About this opportunity

We secured this property at a great discount. This was a deal that we put a offer in early 2023, but wasn’t accepted. It came back to us, and we offered slightly more, and this time round got accepted.

As this was a part of a larger subdivision, there was a delay as the drainage was not compliant to get the title issued, there was a delay from the vendor to get the works completed, however this settled eventually in January 2024

This 2 bedroom, 1 bathroom property on 344m2 land is in need of a extensive renovation. The builder have been through the property and renovation estimates have been supplied, with timeframes.

Located in the sought-after coastal neighborhood of little Manly, a location offering the a combination of a relaxed, friendly neighborhood.

Little Manly Beach is only a 178m walk away. Manly Village shops 450m away, having the doctors, chemist, dairy, licensed restaurants & fantastic cafes an easy walk away. Top schools Whangaparaoa Primary and College zoned with the bus stop just around the corner.

TimeLine:

We are looking to complete this project, end to end in 5 months, with 1 month contingency.

Investment blocks of $50,000 or more are required.

Please contact us to find out about our other investment options – we are always looking for Joint Venture Partners, or we can do profit share options.

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Financials

Purchase Price $497,000
  Loan LVR% 57.69%
Loan Amount $300,000
Renovation Cost $106,950
Consultation, Counsil, Holding, GST, Interest Cost $46,200
Flip
Total Cost $673,150
Sales & Marketing  $29,325

ROI on Sale (6 months deal): 24,23%

Sale
Target Sale Price $800,000
Estimated Profit $97,525

Annualised ROI = 48.46%

Charl van Wyk

Substantial personal portfolio with over 18 success projects delivered across the last 5 years. High focus on specialist education

Contact Us

This development has enormous potential. For more information on this, please reach out to us.