This tightly held four-unit block is the kind of set-and-forget investment everyone wants in their portfolio. With one two-bedder, three one-bedrooms, and garages all round, it's already primed for solid returns, just get tenants in and let the returns take care of themselves.
The building's been well cared for, and because the kitchens and bathrooms are still original, there's obvious room to add value. Freshen things up and raise the rents, or renovate, individually strata, and sell them off one by one for a healthy uplift. It's a solid long-term asset with multiple pathways to grow its return.
Tucked back from the street and elevated to take in open views to the north, the location is in a sweet spot for tenants. Westfield Kotara, Charlestown Square, and the Fernleigh Track are minutes away, with Dudley and Redhead beaches, the CBD, and the harbour foreshore all within easy reach. Lake Macquarie's just down the road, rounding out a location that keeps demand steady year-round.
- Proximity to KU Kindergarten, Club Azzurri and Concept gym
- In catchment zone for prized Belair Public School and Kotara High
- 5.5km to Merewether Beach, 8.3km to Newcastle city centre
Investment Summary - Rental Evaluation
Current Rent (Long-term residents):
• Unit 1: Owner Occupied with $570pw evaluation
• Unit 2: $270 per week
• Unit 3: $285 per week
• Unit 4: $280 per week
Total Weekly Income: $1,405
Annual Income: $73,060
Current Market Rent Evaluation
• Unit 1: $550-$570 per week
• Unit 2: $350-$370 per week
• Unit 3: $340-$360 per week
• Unit 4: $340-$360 per week
Potential Weekly Income: $1,660
Annual Income: $86,320
Current Market Rent (If renovated)
• Unit 1: $600-$620 per week
• Unit 2: $400-$420 per week
• Unit 3: $390-$410 per week
• Unit 4: $390-$410 per week
Potential Weekly Income: $1,860
Annual Income: $96,720
Water Rates ~$1,352. p.a. Council Rates ~$1,688. p.a.
Note: Council and water rates are currently billed separately for each of the four units. There is also the option to consolidate these charges into a single account for the entire property.
Disclaimer: We have obtained all information in this document from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.
