222 LACHLAN STREET is an exceptionally desirable property for an investor, especially an investor looking to boost their self managed super funds.
The property consists of a 3 bedroom home home at the front of the property and 6 x 2 brick veneer bedroom units in the middle of the property and a large carport running from one fence to the other at the rear of the property, able to house 6 cars.
The home though in need of some work offer, 3 roomy bedroom, large lounge, enclosed veranda seperate kitchen and a fully fence year with garage.
The location couldn't be better 1/2 a block from the CBD, Motels, Clubs and adjacent to the local primary school.
Over the last twelve month renovations have been untaken to the units, as follows:
- The entire roofing have been replaced removed the old cement tiles and replacing with brand new colour bond corrugated sheeting.
- Unit 4 has been completely rebuild with new kitchen, bathroom, carpet, paint, fixtures and fittings.
- Unit 5 has had new carpet instsalled
- Unit 3 has had new blinds
- along with general maintenance to the other units.
This allows for great deprecation potential for the new owner.
ROI are as follows (if fully occupied)
Unit 1 $115pw
Unit 2 $120pw
Unit 3 $115pw
Unit 4 $150pw
Unit 5 $130pw
Unit 6 $120pw
TOTAL $990pw or $51,621.42pa
Rates $5,300 (approx)
Water $1,500 (approx)
Insurance $2,000 (approx)
Return on Investment
Asking Gross Return Net Return
$480,000 10.75% 9.30%
NOTE: All figures are approximate and offered as a guide only. We cant not offer financial or legal advice. We recommend that your seek your own financial advice.
This investment opportunity is too good to be missed.