Buy yourself a cash flow! This apartment block has six one bedroom units, built in the 1960's on 931m2 of prime land.

Conveniently located on a bus route, close to the train station, it is elevated, sunny and set in great part of Meadowbank.

The property is leasehold and is owned by St Johns College Trust Board. The current lease was started in 2009 and runs for 21 years. Currently rented for $1,500 per week with potential to improve. This property is being sold fully tenanted. The lease is $36,725 per annum. Rates $6,427.22 per annum. The Council zoning is 6A and there is potential to redevelop the almost level site which has two excellent street frontages. The Improvements Value is $410,000 and the Land Value is $600,000. It is possible that the property could be made freehold through an application to the St Johns College Board.

The property is being sold through Set Date of Sale. Offers will be presented to the current Lessee at 4pm Wednesday 12th September 2012 - what is this cash flow worth to you?