Looking for a project......Big Quick; then look no further - the outcome here is a positive cash flow with growth and whichever way you look at this opportunity it just makes good sense. The property comprises of 8 purpose built 2 bedroom units. The complex comprises of 2 blocks of 4 units in each block and is built with permanent materials and nestled on 1719m2 freehold real estate.
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Look at the numbers: Asking price $495,000, C/V $425,000, rent roll $ 74,360 pa, yielding a healthy 15.5%. Each unit is complemented with 2 double bedrooms, built in wardrobes, separate kitchen with lounge and dining combined. Good off street parking available.
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An independent rental appraisal suggest that with an overall refurbishing programme of each unit, the rental income could easily read $80,000 pa. it is very realistically that this investment could yield a massive 17.0% in the not to distance future. There is good demand from prospective tenants and it is envisage that once this property has undergone a TLC refurbishing programme, long term tenancies should be the norm, thus recreating a hassle-free appealing investment.
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Be the proud owner of these 8 units, do the TLC, and reap the reward.