Three homes on one title, 8%+ Gross yield


Investors check this out: Three homes on one 809m2 freehold title.

Located close to the city and the popular Aquatic Centre and Mitre 10/ Kmart shopping complex makes the location very attractive for residents. All three dwellings have long term tenants who wish to stay.

Currently the units have 1, 2 and 3 bedrooms respectively and the addition of a small wall to enclose the mezzanine of unit 3A would make this a 3-bed property also.

The front two dwellings (3A & 3B) both have kitchen, living room, 2 bedrooms and a family bathroom downstairs. Upstairs, they both have large mezzanine rooms with built-in wardrobes. 3B has enclosed this space making this the 3-bedroom property and this would be easy to replicate in the adjoining unit (3A). Both these front properties have internal access garaging. There is good indoor/outdoor flow with a north facing deck and good sized, fully fenced back yards.

At the rear of the site is the one-bedroom unit with off road parking and also has a large North facing private yard.

All three homes have heat pumps and are Healthy Homes compliant.

RENTAL INCOME: These units are being well managed, and all have long term tenants who wish to stay.

At the asking price and current rents this equates to a 7.2% gross yield and potential increase to 8.5% with rent reviews to market rates.

Rental appraisals can be provided to potential purchasers. Council files are also available to assist purchasers with their due diligence.

For more information contact Maree.

  • Bedrooms: 6 (3 + 2 + 1)
  • Bathrooms: 3
  • Car parking: 3 (2 garage, 1 off-street)
  • Floor area: 220
  • Land area: 809
  • Estate type: Freehold
  • Rates: $8,007.57
  • $949,750
  • Annual rates: $8,007.57
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Maree Tassell

Maree Tassell
Licensed Agent - REAA 2008
027 486 6146