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High Yielding Unit Complex of 4 units 11.6% Return
- 4 Beds
- 4 Baths
- Located within the quiet country of Canowindra, between Orange and Cowra and a 3.5hr drive from Sydney.
- The property offers 4 x bed sitter studio apartments', with secure tenants, for both full time tenants at $95 pw each and or seasonal workers, leases for a higher amount of $150 pw, which includes furnisher, and power.
-Unit 1 LEASED $150 pw includes furniture, power & water use
-Unit 2 VACANT Currently advertised for lease
-Unit 3 LEASED $95 pw includes only water use
-Unit 4 LEASED $95 pw includes only water use
- All units are a basic design of front and rear patio areas, open bedroom/living area, separate kitchen with door to rear patio, and separate bathroom.
- Each unit has their own electric hot water system.
- All tenants have use of a communal laundry room, at the rear of the building, separately power metered to each unit.
- A good sized rear yard area with parking and rear lane access. This rear access may prove ideal for further unit development with this second street frontage subject to council approval'.
- One water meter for all four units (owner pays water)
- Separately power metered to all four units
- Land rates $507 per quarter ($2,028 per year).
- These are very basic, neat and tidy, entry level units to be sold in a line Torrens title (not strata).
- Canowindra is a historic town of approximately 2,258 residents, several pubs, lovely Main Street of historic buildings and a variety of shops. Primary & secondary schooling.
- Land size 1,037m2
- Return based on three current rents of $340pw plus $95pw est rent for unit 2 totals $435pw (11.6% return based on a sale of $195,000.) As these units offer the potential to be leased for shorter term leases which includes basic furnisher and power use along with the standard, this leaves the complex with a total potential lease of $150pw for each unit, that can allow the potential to operate a 16% return, again based on a sale result of the asking price of $195,000.
PLEASE NOTE; PURCHASERS WILL MOST LIKELY REQUIRE A COMMERCIAL LOAN TO SECURE THIS COMPLEX, IF FINANCE IS REQUIRED, DUE TO THE COMPLEX COMPRISING MORE THAN 3 DWELLINGS PER TITLE. Please check with your financial adviser.
1,037m² / 0.26 acres
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