Private Sale - Money Making Opportunity! - $315000

Description

OTOROHANGA QUICK SALE NEEDED! All the hard stuff has been done Two houses on 15230m2 rural lifestyle block between Te Awamutu & Otorohanga. The owner has got into difficulty and needs to quit this property FRONT HOUSE: 3 bedroom 1950's house has been relocated to this site. House is tenantable as is but could benefit from some interior/exterior finishing and landscaping. House currently gets water from rear house so would require separate tank etc if subdividing. Requires: spouting, painting outside, wallpaper and paint inside, floor coverings, landscaping. REAR HOUSE: 3 Bedroom, large kit/dining + extra room at entrance (could be 2nd living) Awesome rural outlook (view from kitchen window is idyllic) This relocated 1950's house needs more work than the front one to get it to a finished state but will be the pick of the two because it is larger, has better views and a more useable section. Requires: spouting, finish soffits from extension, base boards, kitchen cupboards, some window trim, painting outside, wallpaper and paint inside,floor coverings, landscaping. Purchase price for both houses $315,000 !!!!!! Registered valuation as is $395,000 Potential valuation when both houses complete and on separate titles $540,000 Estimated rentals: Front house $220 Rear House $240 Some possible options: - Buy and then sell as is for a profit - Complete both houses and sell - Complete both houses, subdivide and sell separately - Complete both houses - Live in rear and rent out or sell front once subdivided. - Complete both houses - Rent out both - subdivide later when market better & sell