1970's two storey commercial office building with a 12 car basement park. Earthquake rating 73% of NBS which is good.
Retired owner wants to take life easier and sell. Has been full.. Currently returns approximately $41,000 + gst and 44% of outgoings from 2 tenants. Potential for another approximately $58,000 + gst and balance of outgoings if full plus 8 carparks leased.
For sale at $730,000 or approximately 13.5% return if full. NB There may be some fit out costs to achieve this return.
2014 cap $680,000 LV $160,000 ICC rates $5,568 pa Insurance $6350 pa.
Great potential and return for those that are good organisers