Looking for an investment with an attractive rental return and a long-term tenant already in place?
This partially furnished, 2-bedroom brick & iron unit is tucked away in the rear of an established Somerville complex, offering an excellent opportunity for investors looking for immediate rental income without the hassle of finding a tenant!
The Numbers:
Current Rental Income: $580 per week
Annual Rental Income: $30,160
Gross Rental Yield: Approx. 7.75%**
Lease Expiry: January 2029
Next Rent Review: January 2028
Property Management: John Matthew & Sons
Property Features:
• 2 Bedrooms with built-in wardrobes
• 1 Bathroom with bathtub and combined laundry
• Comfortable separate lounge
• Functional kitchen and dining area
• Evaporative air-conditioning (Updated early 2025 approx.)
• Partially furnished – Incl. but not limited to: Two Queen Beds, Lounge Furniture, Refrigerator, Washing Machine & Dryer. (Full list available upon request)
• Undercover parking and sheltered front verandah
• Low-maintenance brick construction
Annual Outgoings:
• Council Rates: $2,321.20 pa
• Water Rates: Approx. $300.00 pa
• Strata Levies: $2,455.20 pa ($613.80 per quarter)
The Added Bonus?
The property is already managed by John Matthew & Sons, with an established tenant who is taking great care of the home, as reflected in the most recent routine inspection.
A long-term tenant, immediate rental income and a 7.75% gross return – the numbers speak for themselves!
Contact Fayth on 0427 737 206 today for further information.
**Gross yield calculated on the advertised price of $389,000, before expenses. All figures are approximate and subject to verification.
