Investment Properties

Comprising of 9 full refurbished furnished units (1x3brm, 5 x 2brm, 3 x1brm) new kitchens, bathrooms, A/C, appliances, paint & floor coverings all fully tenanted, plus a road house / take away shop (leased) on a large allotment with highway frontage.
With all the hard work done and all fixtures & fittings in new condition this is a property you can invest in with confidence.

The current owner of this property purchased 12 months ago and had a vision to renovate all the units and run the business. He has since renovated all the units however now his wife has become very ill and they are forced to sell. The units are always leased however can be fairly transient, most are leased by workers from the feedlot and this can be back packers or workers sourced from overseas. They never go on a fixed lease and the feedlot pay some rents. The agent charges a 10% flat per month calculated at the end of the month, so he does not charge leasing fees etc, whatever rent has been collected by the end of the month then he charges 10% of that only.

The rates the agent uses are set at the following:
1 bedders - $120pw
2 bedders- if one person $140pw if 2 people $170pw
3 bedder – if 2 people $200pw if 3 people $225pw.

These rates also include power usage.
The roadhouse is leased at $120pw plus all outgoings (proportionately). They have just signed a new 3x3x3 year lease. The rent will be adjusted according to turnover.
Currently the 2 of the one bedders are leased to longer term tenants, one has an older lady and the other has a single guy.
Outgoings total last year was $27,240. Ultimately at the end of the year you should end up with a 10% plus Nett Return.