5 x Flats in Margate CBD
If you want great returns, look no further – here it is.
These flats are a mixture of 1 & 2 bedrooms and are in very decent overall condition.
Located on 2 lots (1 title) the block is 810sqm (approx.) with a 20mtr frontage
Currently fully leased to long-term tenants (all on fixed leases) and happy to stay, the property is presently returning approx $45,000 gross per annum. The opportunity exists to improve returns over time to approx. $1,100 per week with minimal upgrades.
In the heart of Margate CBD, the shops (including Woolworths), transport & the beach are all less than 200mtrs away.
With interest rates at historical lows, this property is a rare commodity. Would be should developers consider the land size, Mixed Res Zoning and location. Those looking for cash-flow, consider the current (and future potential) returns as better than money in the bank.
This property represents a solid value proposition for long-term capital gain with strong cash-flows along the way. What more could you want?
For more information call me today – you’ll be glad you did!!!