Sitting on 1012 sqm in a central location just two blocks from the CBD.
These two 2-bedroom residences are both leased to long-term tenants. Both tenants pay $290 per week, equating to a gross annual income of $30160 and a gross return at purchase price of 12%. Rates are $6800.
The property is in a flood zone, but is highest, so only the carport area, laundry, and yard will get water in the event of a flood tenants will be high and dry, and in most cases, the water will be gone overnight.
There is a little bit of work to do on one of the bathrooms as there has been a leaking shower base, but other than that, it looks pretty robust.
This is a bargain price and will suit a real estate investor who is prepared to do a little bit of work and reap the returns.
These opportunities do not come along very often, so don't delay.
Regards,
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