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Unique opportunity exists for the astute investor with Mildura's CBD literally at your doorstep.
Comprising 4 solid brick units partly rendered internally, all in very good condition, recently painted , new carpets, complete with all amenities for today's living, externally spacious private rear yard for privacy, all within a short stroll to town centre, river, supermarkets and arts precinct.
Sitting on COLLEGE LEASE land with 1 full time tenancy in place, there a further 3 x 2 Bedroom fully furnished Apartments currently used for inner city holiday accommodation known as Mildura Holiday Apartments , listed on accommodation provider booking.com , starting from $130 Per night for Holiday Accommodation, or can be used for short/Long term stays at an adv $500 Per Week, this flexible investment will show good returns or great returns depending how you want to drive it.
If that is not your thing and a more passive approach is what you are after, they are easily converted into full time tenancies
Permanent Rental Approach
UNIT 1 x 3-bedroom Unit (Currently Tenanted to May 2021 at $285pw, $14,820 PA)
UNIT 2 x 2-bedroom Unit (Expected rental $260 PW, $13,520 PA)
UNIT 3 x 2-bedroom Unit (Expected rental $260 PW, $13,520 PA)
UNIT 4 x 2-bedroom Unit and Shed (Expected rental $265 PW, $13,780 PA)
Estimated Gross Rental $ 55,640 PA
Total Expenses $16,265.51 PA
Comprising of,
College Lease $9,000 PA.
Mildura Rural City Council Rates $ 5717.35
Lower Murray Water $ 1547.75 PA, includes usage
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