Hands off investment with monthly return!

Ramada Hotel in Albany is a luxurious low-rise hotel building, Newly built in Year 2020, conveniently located in the heart of Albany, surrounded by popular cafes, restaurants, bars, and retail and business centres. Close to Albany bus station, motorway access, North Harbour Stadium, Albany Tennis Park and numerous walking trails and bush reserves. Walking distance to AUT Millennium, Massey University & Westfield Albany. It offers both convenience and potential for growth.

Key Features:
• Stratum in freehold
• Fully furnished one bedroom apartment with a secure car park
• Large bathroom with laundry facilities included
• Managed by Ramada Albany Hotel on a long-term lease and returns
• Total floor area of approximately 34m2 more or less
• CV: $405,000
• Rates: $3,063.84 per annum
• Body Corp Levy: $2,287.49 per annum (Levy Period 16th May 2024 to 15th May 2025)
• BC Levy Insurance Portion is $1,111.53 including GST.
• Generating a monthly return of approx. $1,566.51 is paid directly into your bank account on a monthly basis
• Lease term of 30 years (15+5+5+5) with Ramada Albany from 2017, buying it for long-term stability and profitability
• 10 days free use per annum for owners, you can earn the cash income and also enjoy the free stay at the same time!
• Rental appraisal: $580.00 to $620.00 per week

Asking price $218,000 + GST(if any)

This is a great opportunity for investment. The highly motivated vendor is eager to sell.

Now is the right time to secure a smart investment. Contact May Ma at 021 821 600 or Mark Li at 021 330 678 to make a deal!

NOTE - photos are of a similar unit in the building, furniture will differ from photos.