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1083 M2 BLOCK! WHOPPING OVER 6.5 % YIELD RENTAL RETURN!
These 5 flats are a mixture of 1 & 2 bedrooms and are in very decent overall condition with a 27mtr frontage.
Currently fully leased to long-term tenants (all on fixed leases) and happy to stay, the property is presently returning approx $62,000 gross per annum. The opportunity exists to improve returns over time.
In the heart of Margate CBD, the shops (including Woolworths), transport & the beach are all less than 500mtrs away.
With interest rates at historical lows, this property is a rare commodity. Developers should 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!!!