- For Sale
For SaleAsking price of $4,895,000
At a circa 7.2% gross yield (5.5% net), you will be hard-pressed finding a better investment opportunity than this. Our vendor wants it sold and therefore now priced it to sell.
Converted to a high-quality residential building in 2013, the low-maintenance property has consistently generated a solid income since its strategic repositioning.
Comprising four apartments (2 x 5 bed, 2 x 6 bed) each unit comes complete with bedroom and living furniture, making it a convenient option for a variety of tenants. Tenants also enjoy the benefit of excellent heating and security systems, private outdoor spaces and various light-filled living areas.
Combining the four residential apartments and additional billboard rental, the property provides stable gross income of $350,923 per annum. Since 2013, it has effectively remained 100% occupied, such is the demand for residential accommodation in the area.
Located in a fast-evolving part of town, the property’s proximity to tertiary institutions, cafes and restaurants and local amenity holds significant appeal to a range of tenants. Webb Street also benefits from ease of access to the CBD, various parks and reserves and motorways.
At this asking price the opportunity will not last long. Please get in touch ASAP to register interest.
Ref #: 20806876