Sound investment

The owner has enjoyed this great investment for many years and is now ready to hand it on.<br/>10 bedsit units situated on a one title 1656sqm corner block.<br/>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.<br/>The property is currently managed by the local Raine & Horne agent who have done a great job over the years.<br/>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.<br/>Last financial year the gross income was $53,000.00 with maintenance and agent fees at $11,000<br/>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.<br/>Rates for the property are $946.00 per quarter.<br/>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.<br/>Please call the agent to arrange to see the contract and organize a date to inspect.<br/>