Investment Properties
VIC Return Plus Potential Plus Great Price
This property may simply have the lot. A great price bracket at $270,000, an over 9% return, potential to increase rent with renovations as well as development potential down the track. The property is 4 x 1 bedroom units, all tenanted and has a good rental history. There are 2 units at the front and 2 at the back. The front 2 are tidy with no work needed, the back 2 do need some work and some work straight away including replacing the showers (quotes have been gotten already allow about $600). We are still waiting to confirm the land size however believe it is over ¼ acre which should allow for development in the future.
The tenants are all young and a couple are on Centre Pay, so Centrelink are paying their money directly into the agents account.
It is located less than 100km’s from Melbourne making it a fantastic location.
From the agent:
If you want a good property earning you an excellent return and with loads of potential to improve and/or extend/develop (STCA), this could be the one for you. Presently 4 x 1 bedroom units on 1 title on a large block, the rental income is currently $24,490 per annum.
Located in a quiet cul-de-sac only a few minutes from the centre of thriving town centre, the tenants are happy to stay.
 Buy & Hold
 Development
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| Purchase Price: | $270,000 |
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| Gross Weekly Rental: | $470pw |
| Council Rates: | $1,200pa approx |
| Management Fees : | 7.7% |
| Gross Return: | 9% |
| Population: | 6,500 |
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