The best time to buy real estate is YESTERDAY!
YES, the market has ebbs and flows, however time tells the story that investing in real estate seems to be one of the surest ways to build wealth. Our need for affordable housing continues to rise for all demographics. Rental returns are also still om the rise.
The units at 213-217 Prince Street, Grafton have been evolving over the last decade. The façade has lifted, many units have taken renovation and as a result the value and rental returns have increased. Unit 5 has retained the same quality tenants for several years. They would love to stay on, and are currently in lease paying $230pw.
The solid brick construction is resilient. The 1-bedroom unit is light filled with southerly views over Grafton's CBD. The tenants have omitted a lounge-room to use the floorplan as a 2 bedroom unit being all they need for rest in between work trips. The bathroom and kitchen has been ample for their requirements.
Current rental income is $11,960 per annum (before management fees are deducted).
Strata is approximately $4309.52 per annum ($3,809.52 admin and $500 capital works)
Council rates are approximately. $2460.00 per annum.
Historically these units sell fast and are often purchased sight unseen, or by existing holders in the complex. Be sure to make your intentions clear ASAP by contacting Kylie Swift on 0488 161 621.
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.
