The problem: You buy land to develop and during the time it takes to subdivide and build there is no money coming in, only money going out.
The solution: 52 Dartmouth Street Port Augusta!
This well presented brick home provides the option to collect rent while you develop the remaining 1,858 square metres. The home itself sits on an approximate 600 square metre footprint, leaving about 1,200 square metres to develop another 2 or 3 properties (STCC). The block has a 30 metre frontage and is disposed to provide easy access to the land for development.
The home itself features good size living room and dine area with lovely polished floors throughout, modern kitchen, 2 good size bedrooms plus sleepout, and modern bathroom with spa, ducted reverse cycle air conditioning and ceiling fans throughout. A lined rumpus room with its own wet area provides some extra living / sleeping space. Good manageable size rear yard and carport with roller door.
This property is currently rented at $260 per week and with all the proposed projects for Port Augusta bring a lot of potential tenants to town this property is a win win situation.
|R&H Suburb Summary||Houses|
|Number of sales||63|
|Median Rental Price||$240 p.w.|
|Change in Rental Rate (5yr)||0 %|
|R&H Suburb Summary||Units|
|Number of sales||3|
|Median Rental Price||$175 p.w.|
|Change in Rental Rate (5yr)||9 %|