Calling all intelligent investors and value-focused owner-occupiers, this could be the best-value buy in Palmerston in 2022.
The four-bedroom property has been renovated throughout with a new modern kitchen, including timber benchtops, dishwasher and induction cooktop. NBN fibre-to-the-premises offers lightning-fast internet. Beautiful new flooring and fresh paint throughout present a property that is ready for new owners to move into and enjoy or for investors to start generating income.
The location is super-convenient, within sight of Palmerston District Primary School and opposite large, lush green sports fields. With a bus stop right next door for easy trips to Gungahlin Town Centre and light rail access to the CBD, this property works with or without a car. Indeed, it is also just a short walk to the local Palmerston shops. Gungahlin Drive is at the end of the street which means only 15 minutes driving to the CBD or 20 minutes to the airport.
The smart investor seeks cashflow to build their portfolio and this block has amazing potential. It is versatile, with the house perfectly placed in the front corner for maximum access and open space. It is level and easily accessible with space for multiple vehicles (or vessels or other tools or toys) to set up as outdoor living area.
With the rental crisis in Canberra, the median rent has already risen to $680 per week. Before recently moving interstate and deciding to sell, the sellers had engaged Canberra Granny Flat Builders to draft a concept plan for a Secondary Residence so there are designs available to show the fantastic potential for this block.
Subject to development approval, an additional 4-bedroom, 4-bathroom property can be added for approx. $335,000 incl GST (rates and land tax stay the same even with all the extra rentable space).
Fibre to the Home, NBN connection.
https://agentboxcdn.com.au/clients-data/6287/public_html/media/lt/1/1P0093/doc/164558865262477754.pdf
Market rent for 59 Kosciuszko Avenue, Palmerston is already looking like $690-$720 per week and the anticipated rent for the secondary residence is $1000 per week, making this a potential cash cow.
The foundation of my auctions is a fair-go for all buyers - auction terms:
Onsite auction on Wednesday, 23 March 2022 at 6.00pm Offered with vacant possession on up to 60-calendar-day settlement terms Early occupancy available between exchange and settlement at nominal rent Design documents for the secondary dwelling are available but no guarantees are offered or provided by the seller $1000 deposit paid at auction with 10% at risk and 5% to be transferred within three working days if you are successful For a fair and transparent process and access for all buyers, the sellers are not entertaining pre-auction offers The transfer is not restricted, and the land-lease scheme doesn't apply Investors can claim stamp duty on the purchase in the FY of exchange It's hard to establish value my commitment is to provide fair and accurate market price feedback after about 7 days of marketing.
See you there. If you have any questions, please email me at: contact@auctionadvantage.com.au or call me on: 0400446605. Frank Walmsley, Auction Advantage.
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