Property Details: • Type: Block of Units
• Bedrooms: 9 • Bathrooms: 5
Description: This block of 5 units offers a solid income stream and an even more solid long term investment. Sitting on a 1,012m2 Medium Density parcel of land that is conveniently located close to the Bundaberg CBD, Hinkler Place Shopping Centre and a host of other services, this is an exciting opportunity for a savvy investor. Consisting of four, 2 bedroom units and one, 1 bedroom unit, each unit offers built-in wardrobes, security grills on windows and an undercover carport. Currently sitting on 1 title, meaning that there is no Body Corporate in place, the half yearly rates are currently $5,713.77. The units are currently returning $1,750 per week for a yearly return of $91,000: Unit 1: $355 Unit 2: $355 Unit 3: $345 Unit 4: $345 Unit 5:$350 (1 Bedroom) Insurance: $5,795 per annum Rates as per Form 2 Disclosure Statement. The owners of the unit complex wish to focus on another project and are prepared to sell under the market value to do so. The Bundaberg Unit market is very hot at present, if the new owner(s) were to Strata Title the site for instance, a significant value add would be immediately achieved at minimum cost. Call Exclusive Listing Agent Greg McMahon on 0414 518 315 or email [email protected] to arrange an inspection.
