This is an extremely rare opportunity to secure an entire building in a superb location at well below market value, with the option to implement far higher rental returns.
Due to prior mis management the property is returning approx $108,000 pa with leases in place until early next year. Our agency has recently acquired the management of the complete block and undertaken an up to date rental appraisal, that would see rental returns increase up to $160,000 per annum.
The building is a well maintained brick and tile block consisting of 5 x 2 bedroom, 1 bathroom, 1 car garage and 1 x 3 bedroom, 2 bathroom, 1 car garage. All three ground floor units feature private courtyards, whilst upstairs feature private sunny park view balconies.
Positioned at the end of a cul-de-sac on a prime 984 m2 allotment with direct access and views to a beautiful north facing park at the rear. Set in a superior blue chip location within a 2klm radius of the beach, Pacific Fair shopping destination, Star entertainment complex and the light rail.
In addition you have a bus stop, tavern, local shops, cafes and dining on your doorstep.
All units are strata titled, allowing you the option to sell off individually in the future for maximum capital gains. Alternatively you can dissolve the strata to form a single title in order to minimise rates/outgoings for maximum income.
The property is well maintained with the scope to make additional improvements, adding further value, either now or in the future.
This is your opportunity to secure an unbeatable buying opportunity at below market value. Why not buy today, with the option of a longer settlement and capitalise on increased rental returns… up to $160,000 and increased asset value.
Astute buyers and savvy investors are guaranteed to make this acquisition a priority.