Attention Investors! There are times when a property is presented to market and it draws your attention immediately. This is that property. At a mere $220,000 the property is achieving a healthy return of 8.7%. In terms of residential rental properties, this is fantastic!
The property consists of a duplex format residence with each unit featuring two bedrooms, 1 bathroom plus a spacious kitchen and living areas. The units are both complemented by air-conditioning and neutral colour schemes. The entire building is very well maintained both internally and externally.
For vehicle accommodation, a driveway leading to the rear of the property enables each unit access to their very own single bay block constructed garage plus extended undercover awning with both bays capable of accommodating two vehicles.
Location of the property is great with only a 250m walk to Convenience Store and Private Medical Practice and approximately 300m to the Ayr Hospital. Although close to essential services, the street has a relatively low traffic flow.
With long term tenants in place and a combined return of $370 per week, I suggest, if you are in the market for a solid returning investment property take particular interest in this.
|R&H Suburb Summary||Houses|
|Number of sales||181|
|Median Rental Price||$280 p.w.|
|Change in Rental Rate (5yr)||8 %|
|R&H Suburb Summary||Units|
|Number of sales||26|
|Median Rental Price||$218 p.w.|
|Change in Rental Rate (5yr)||2 %|