Renovation Plus A Granny Flat Option
Property ID: 15612365
Purchase Price $270K
Estimated rent $295 per week
Estimated Yield 5.68%
Estimated Renovation costs $15K
Granny Flat $130K
Total Cost $415K
Estimated Rent $290 + $250 = $540 per week
Estimated Yield 6.77%
Situated on an 809 m2 block with easy access to a large back yard, this property is ideal for adding a granny flat. There is further potential to add value by updating the bathroom, kitchen and back deck area.
The existing house has 3 bedrooms and 1 bathroom. Single lock up garage underneath, timber floors throughout and air-conditioned lounge. Security screens throughout, storage room and a large water tank with pump.
Facilities close by include;
* Several bus stops within 300m
* CBD 3km.
* University campus 2km.
* 2 Hospitals 2km.
* Train station 3km.
* Major shopping centre with Coles, Woolworths, Aldi, Target, Best & Less, Cinemas and more than 100 specialty stores 4km.
Within a few minutes drive your tenants will have access to 10 schools, 12 childcare centres, retail shopping, restaurants, cafe's, bars, Coles, Woolworths, Aldi, IGA, health and sporting clubs, parks, pharmacies, doctors, cinemas, banks and Australia Post.
There is a $1 Billion Industrial Park just 8.5km away and another is to be constructed 6km away and this one is projected to create 14,000 jobs.
* Vacancy rates are at 2% (2 - 3% is considered a balanced market)
* Online enquiries into this suburb are 63% higher than the state average
* The number of sales has increased by 16% compared to 12 months ago
The population of this region is forecast to more than double in the next 16 years, bringing an additional 75,000 jobs to the area. An additional 120,000 jobs are expected to be created within travelling distance to this location.
There is currently $Billions in infrastructure spending planned for this city. As a result this region is projected by property experts to see strong capital growth over the next 3 years.
Call Matthew Barnes on 0430 979 900 for further details.