Buyers Advocacy – UNIT BLOCK
Purpose of Purchase: Investor-Wealth Creation Strategy
Property Type: A Unit Block consisting of 3 x 1 bedroom + 2 x 2 bedroom flats. Situated on an 877msq allotment zoned LMR. Potential of renovating all units and adding a unit to the existing site
Purchase Price: $1,150,000
Yield & Rental Info: A combined weekly rental of $1,375 upon purchase has given our clients a yield in excess of 6% and with a growth rate of 4% + per annum this is a great solid investment putting cash in the bank.
How this purchase met the clients brief:
- Client was after a Unit Block 10kms from CBD
- Needs to be highly geared.
- Potential ability to Strata
- Manufacture Equity through renovation and increasing density
This small unit block was returning just over a 6% rental yield on purchase.
The property was also situated on a good size block with appropriate Zoning for future development to exisiting building or build new .
All flats are in good condition and the units rental value can certainly be increased with a partitioning of the garden areas allocated to each individual flats.
A great Unit Block purchase with plenty of upside.