What would you say is a good return on investment for a country WA residential property; 4, 5, 6% ? This strata unit is let for $240 per week. That’s a gross return of almost 10% on its asking price of $125,000.
Not a bad yield for a 1980 brick and tile unit with long lounge/meals, kitchen with gas stove and air conditioner, passage with 2 linen-press storage cupboards, main and minor bedrooms, bathroom with toilet, laundry with another storage cupboard.
The back door from the laundry exits to the back yard which is part of the Lot, that is, not Common Property, and off the driveway is a carport.
Just around the corner is the Northam Hospital which recently benefitted from a $45M upgrade to its health and emergency service. Close by is the Lawn Bowls Club, Senior High School, primary school and TAFE.
740m down Newcastle Road is Apex Park opposite the banks of the Avon River with its barbecue facilities and kids’ play equipment. Just hop over the Avon Bridge and you’re in the town’s main street and shopping area.
The unit has been let to the same lovely tenant since August 2014, currently paying $240 per week
Not bad for $125,000 eh!!