The owner has enjoyed this great investment for many years and is now ready to hand it on.
10 bedsit units situated on a one title 1656sqm corner block.
The 3 separate buildings are strategically placed on the property to maximize the privacy and space for all. Each unit has a separate kitchen, lounge bedsit and good size bathroom. There are two separate buildings which are the shared laundry’s.
The property is currently managed by the local Raine & Horne agent who have done a great job over the years.
The building roof areas are all booked to have a fresh paint job to tidy them up and this will be done asap weather permitting.
Last financial year the gross income was $53,000.00 with maintenance and agent fees at $11,000
Rents we consider are below average of the area, recently raised to $160 per week we believe that there is scope to increase these again.
Rates for the property are $946.00 per quarter.
There are a couple of vacant units at the moment which we are using for inspections so as to not disturb the tenants privacy where possible.
Please call the agent to arrange to see the contract and organize a date to inspect.