Investment Properties
NSW - Cash flow plus potential
This property comprises 3 flats – 2x1 bed + sleepout and 1x2 bed, located on a 1,341m2 block central to town.
All flats have a back door that opens out onto the large backyard common area. All tenants contribute to the upkeep of this area.
The 2 bed flat also comprises a study, separate storage area and free standing carport.
The flats are in reasonable condition given their age. The 2bed flat in particular does not need any immediate work or maintenance, however, the 2x1 bed flats could do with an internal paint and a tidy up of the bathrooms, although, the tenants are happy, so this may be better done between tenants or as required. The tenants have all been there for around 10 years.
The beauty of this property is really in maintaining it for the next few years as necessary, collecting the nice return and then looking to demolish the existing dwelling, as the site is located close to town and is large enough to look into building some townhouses. This type of scenario is not new to the area, with some townhouses just down the road that are about 5 years old.
In today’s market, the agent has valued the block of land alone at between $120-130k, so this is the real value of the property, and in the meantime, it is producing a nice holding income.
 Buy & Hold
 Development
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| Population: | 9,000 |
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| Gross Return: | 9.9% |
| Management Fees : | 8.8% |
| Council Rates: | $2,500 approx |
| Gross Weekly Rental: | $340pw |
| Purchase Price: | $180,000 |
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