Investment Properties
NSW- Cheap property with subdivision potential
This property is a house and shed on a large industrial lot of 1,800sqm.
The house is old and I do mean old however has a DOH new lease on the property at $150pw.
On the back of the block is a large industrial shed that the current owner is willing to lease back at $75pw. The market rent on the shed is $130-150pw; however he wants this to be included in the sale terms at $75pw. The idea would be however to keep him there for a year and then ask for market rent or he can leave.
There may also be an option to subdivide off the shed and the house, the block has over a 20 meter frontage which should allow for subdivision; however the carport attached to the house would have to be knocked down, to create an access point. You would also need to add a gate in the back fence. The value in this property is to keep the house for as long as possible on this lease doing as little maintenance as possible, then demolish the house and build another industrial shed.
 Buy & Hold
 Development
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| Purchase Price: | $129,000 |
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| Gross Weekly Rental: | $150 pw for the house $75 for the shed |
| Council Rates: | $2,070pa approx |
| Management Fees : | 8.8% |
| Gross Return: | 9% |
| Population: | 8,000 |
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