Built in 2006 this solid brick rendered block of units has been constructed for minimum maintenance. The townhouses are located in a prime position on the city fringe, walking distance to multiple schools, the CBD and Hinkler Central Shopping Centre.
Each unit features:
Upstairs: - Large Master bedrooms have huge walk-in-robes, a/c and a large en-suite with dual shower
- 2nd bedroom also has the luxury of its on en-suite and built-in wardrobes
- Good sized tiled living area with a private north facing balcony
Downstairs:
- Good sized kitchen with dishwasher - Open dinning / living, air-conditioning, and a good size functional built-in laundry
- Comfortable private rear outdoor patio
- 1 good sized bedroom with built-in wardrobes
- Bathroom with separate toilet
- Understairs storage
- Single lock up garage with internal access
18 Water St represents a great investment opportunity for the astute investor. Bundaberg sits on a consistent rental occupancy rate of under 1% and with growth in population and industry, it is not looking like slowing for many years to come, so you can be sure this investment will always be returning at full capacity. The units are currently rented for $104,000 per year ($500 p/w each unit). Units are consistently occupied, and when a changeover occurs, the next lease starts within the week! The investment offers the opportunity to return a gross yield of over 6.1% at the current rent. (These yields were calculated from the starting price of $1.70m) The townhouses are also strata titled so can be sold individually in the future ? (Current Market Appraisal approx. $450,000 each). As it sits, the current NET RETURN IS OVER 5.1% at a purchase price of $1.7m.
With the State government underway with construction of the new hospital (10mins away), population and industry growth like we have never seen before and one of the most desirable climates in the country. This is an outstanding addition to astute investor to add a gem to their portfolio.
To find out more about this outstanding investment opportunity, contact exclusive agent Nathan Powell on 0410 507 291