Our client has authorised a reduction in the asking price from $168 000 to $148 000. The property now shows a gross return on investment of 8.4%. Thats a very attractive rate.
Thats not a bad yield for a 1980 brick and tile strata titled 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, currently undergoing a $4.8M upgrade to its health and emergency services, and medical centre/pharmacy, and also 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 youre in the towns main street and shopping area.
The unit has been let to the same tenant since August 2014, currently paying $240 per week with a lease renewal due August 2020.
Not bad for $148 000, eh!!