Purpose of Purchase: Investor
Property Type: Two Storey Brick Home- 607msq block of land
Purchase Price: $476,000
Yield & Rental Info: rented @ $425 p/wk resulting in a yield on purchase of 4.6%. With an annualised growth rate of 4%.
How this purchase met the clients brief:
- Interstate Investor client after low maintenance property
- Has to be brick construction – client does not like timber homes
- Set and forget- with growth potential
- Close to Transport modes
This property was bought with the future in mind. Two storey brick home in immaculate condition. Living area and Bedrooms on upper level and rumpus and garaging under.
The property is also only a short drive to the waterfront and very close to schools, shops and public transport.
The Newport Harbour & recreational development is also a short walk from the property and will add significant value to the surrounding areas when completed.
Client also has ability to add granny flat or build in underneath if desired.