Comprising 3x2 BR units, this solid opportunity for investors offers a 6.15% return or alternatively a roomy residence whilst collecting rents from the other two (2) units. In a brilliantly position within walking distance to town the original developers did exactly that...lived in the rear unit for several years and rented the other two. Living on site means maintenance can easily be attended to and so minimising your outgoings.
If you are just seeking rental return the complex has an attractive rental history and current return of 1x$175/week (under market rent), 1x$220/week and 1x$250/week. Council rates include water connection, water usage and sewer and amount to $5296 per annum resulting in a return of 6.15%. As the units are not yet converted to strata and not separately metered for water, the owner pays for water which is incorporated in the rent paid by tenants.
The main unit boasts a huge air-conditioned open living area and whilst the kitchen is not completely new it has been upgraded. New carpet and paintwork means you can move straight in. This unit also comes with additional storage and 2 adjacent carports.
A second unit has also been upgraded whereas the remaining one has been rented long term and does need refreshing. Both these units come with their own carport whilst the complex does offer visitor parking space. All units well proportioned & maintained:
- In a quiet block of 3 units
- Well suited to live-in investors
- Walk to town