Reliable Residential Cash Flow

A rare opportunity to purchase an entire, two level complex of 36 one and two bedroom units 'in one line'. Known as Melville Gardens and located in the affluent and high performing suburb of Bicton, the group has remained fully leased for some time, providing 'future proofed' reliable and increasing cash flow.<br/><br/>With the Swan River 1km to the North and Cosmopolitan Fremantle 3km to the West, tenants enjoy the convenience of Melville Plaza Shopping centre 600m to the east and Bicton Central Shopping Centre 600m to the west, not to mention the King Leopold Hotel only 80m away. <br/><br/>Bus stop situated immediately in front of the complex providing a direct route into the Perth CBD.<br/><br/>Well maintained and with a substantial landholding, the complex features;<br/><br/>• 32 one bedroom units and 4 two bedroom units;<br/>• 4,053sqm* flat and level land holding<br/>• Current gross rental income of $468,000pa<br/>• Rental income increasing<br/>• Zoned 'mixed use' R50<br/>• Group already strata titled<br/>• Future development potential<br/><br/>For more information or to arrange an inspection please contact the agents:<br/><br/>Brett Wilkins<br/>Ray White Commercial (WA)<br/>M: 0478 611 168<br/>E: [email protected]<br/><br/>Stephen Harrison<br/>Ray White Commercial (WA)<br/>M: 0421 622 777<br/>E: [email protected]<br/><br/>*Approximate