211/80 Riddiford Street, Newtown, Wellington 6021, New Zealand

The modern architecturally-designed Masina Apartments were completed in 2013 and are centrally located on the corner of Riddiford and Hall Street in Newtown, Wellington.

Apartment 2.11 is a spacious one double bedroom apartment with an adjacent dual-key studio with separate entry. Designed by renowned Wellington Architects Novak and Middleton to offer a high standard of contemporary urban living for a discerning owner occupier as a house-and-income, or together as a dual-income investment property for the savvy investor.

The overall complex has stunning street appeal, modern safety and security systems and a comfortable level of privacy. Quality fittings and fixtures are used throughout. Generous living spaces, warmth and good natural light create a relaxed, urban atmosphere.

The area is rich in culture, cafes, shopping and close to transport, education, and leisure activities, and is opposite Wellington Regional Hospital. The Wellington CBD is a 5-minute ride away.

Features include:

• Dual key apartment - 1 bedroom + Studio
• Built in 2013 to 150% of the current earthquake code standard
• The complex is double glazed and fully insulated
• Architecturally Designed by Novak & Middleton
• Currently rented for a total of $905.00 p/w

These apartments are tightly held and command a great rent and a high occupancy.

Viewing is by appointment only.

For more details go to: https://tinyurl.com/21180Riddifordstreetnewtown

Photos are promotional from http://www.masinaapartments.co.nz

Capital Value is $900,000

Rental Income $905.00 p/w

Body Corporate Fee $ 7,755.28 p.a

Rates $2,979.68

Lease details below:

The tenants at unit 211/80 Riddiford street are currently on a periodic agreement.  I have attached the official email we sent out confirming that they converted from fixed term to periodic on the 24^th of November 2022.   They would now have to give 28 days’ notice to vacate the apartment.   The copy you sent through was their original fixed term agreement that they started with,  however, they are currently paying $510 per week.   The last rent increase was on 04/06/2022 which means the rent will be reviewed on 04/06/2023. 

Unit 211a/80 is the current lease agreement.   Their fixed term lease ends 29/04/2023 and they are currently paying $395 per week. Total income $905.00 p/w.

Property management Fee 8.5% plus GST.