MARGATE – House
Purpose of Purchase: Investor
Property Type: House-Single Story Brick-405msq land
Purchase Price: $385,000
Yield & Rental Info: rented for $370 per week resulting in close to a 5% yield on purchase. A steady growth rate of 3% P/A will make this a very sustainable and profitable investment.
How this purchase met the clients brief:
- Interstate Client Wanted Set and Forget, low Maintenance Property
- Ability To Value Add
- Growth Area with reasonable Rental Yield
We purchased this low set brick home in a thriving suburb with good local infrastructure.
The property is less than 900mts walk to the waterfront, golden sandy beaches, cafes and cycle lanes.
Whilst the property is in original condition internally it is still tenant ready but also has the ability to add value through renovation at a time in the future.
The property was tenanted after 3 days on the rental market.