Purchase Price - Offers over $85,000 + Estimated Remedial Costs of $239,809 = $324,809+
This top floor studio apartment is in the Calais Mount Resort - situated in arguably the best position downtown the Mount. Mauao and the Mount hot pools are across the road, and you're only a short stroll to the world-class main Mount beach to the East and Tauranga's scenic and busy harbour to the west.
But the Calais Resort has weathertightness issues, and a major remedial project is scheduled in 2020. Sadly, the current owners are not in a position to retain their top floor studio apartment, allowing you to invest in one of the Mount's best locations below market value!
The Calais is a managed apartment building offering stress-free management of the apartment if you are buying it as an investment. Alternatively, live in it permanently or make it your holiday home.
Apartment Size: 38m2
Rateable Value at 1/7/2018: $245,000
Rates per annum: $1,922
Current Body Corporate Fees: $4,135 (doesn't include any long term maintenance fund fees)
No Body Corporate Fees will be charged during the rebuild
With COVID-19, the target starting date for the remedial work of 1st July 2020 is delayed. An extra-ordinary meeting of owners will take place in June 2020 and more concrete information will be available after that.
To access property documents, copy and paste: www.propertyfiles.co.nz/property/MTM10614