2 - 9/24 MITTAGANG ROAD, COOMA, 2630, New South Wales

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Subject: 2 - 9/24 MITTAGANG ROAD, COOMA, 2630, New South Wales

For sale

$575,000

Plenty Of Upside with Improvement.

Property ID: 19434998

Safe investment opportunity with plenty of upside. Eight x one bedroom units and two garages.

The units are brick veneer with tiled roof internally, they offer an open living area with a kitchenette to one side, display cupboard, a large bedroom with a large built-in wardrobe and a tiled ensuite.

Each unit has a parking space plus there are tow garages which are leased.

The eight units are in one strata title.

Each unit has a small garden in front and a large green lawn area.

A common laundry services the complex.

Each unit is leased,

Rental income:

8 units $1060 × 52 weeks = $55120 – Two garages $180 × 12 = $2160 – $57280 Per Ann

Outgoings:

Council rates, Landlord insurance, Agent’s Management, Body corporate fees, $23,500 Per Ann. Approximately $33,780 Nett

Location – These units are positioned amongst several major landmarks, Monaro High School (150M), primary school (50M), Christian school (400M), Snowy Hydro (350M), information center (200M).

Comment – These units have some upside. Minor renovation will increase the rents. The Snowy 2.0 project is expected to put a lot of upward pressure on future rental accommodation.

Land Area8,938.0 sqm

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R&H Suburb Profile: Cooma

R&H Suburb SummaryHouses
Number of sales 198
Average Price $286,640
Median Price $265,000
Median Rental Price $295 p.w.
Change in Rental Rate (5yr) 18 %
R&H Suburb SummaryUnits
Number of sales 5
Average Price $223,700
Median Price $267,500
Median Rental Price $170 p.w.
Cooma, NSW - Median Trend
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