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$199,000
Five units for under $200,000? Yes you did read the listing correctly!
A truly outstanding opportunity awaits a savvy investor with this half acre Stanley Street property, comprising of no less than FIVE ex - GROH 2 bedroom units! The units are generally in very good condition for their age and some feature modern kitchens and tiled floors. All units have split system air conditioning to living rooms and bedrooms as well as security screens to all windows and doors.
Unit 2 is currently leased to a private tenant at a rate of $170per week. Assuming that similar rents could be achieved for the remaining 4 vacant units, this could translate to an eye popping 22% gross rent return if all units were rented simultaneously.
The multi-unit set up means the property would be suitable for a variety of other purposes such as staff accommodation or perhaps for a retiree who would choose to live in one of the units whilst generating a healthy passive income from the other units.
The units are connected to mains sewerage but are not strata titled. The current R5 zoning of the property also means that it will NOT be possible for a new owner to strata title the units, unless the property is re-zoned to R30.
For further property details or to arrange a private inspection please contact Giles Tipping on 0408 097 248 or email giles.tipping@raywhite.com.
39B Clarendon Street, Derby WA 6728
Call Giles Tipping on
0408 097 248
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