On the market for the first time in over 40 years is this this solid full brick block of 7, 2 bedroom flats presenting the ideal opportunity for the astute investor to acquire a blue chip offering in a prime location with scope to add value. Sitting on a generous 847m2 parcel of land, some standout ones include:
-7x2 bedroom flats (some with built-ins)
-Majority have updated kitchens (some eat-in)
-All apartments have Internal laundries
-A mixture of mostly updated and some original bathrooms
-Spacious loungerooms with adjoining balconies
-Solid full brick construction
-Carpeted floors
-3x undercover parking and 4 open car spaces
-Zoned R3 under Cumberland City Council
-Approx 900m to Auburn Train station and shopping precinct
-Potential 6.5% gross return based on projected rent
-To be sold in one line
This property is under-rented and has an existing GAR of $109,200 with potential rental upside to increase in line with current market and demand to $164,000(conservatively).
Golden opportunity to capitalise on this wonderful opportunity and reap the rewards to unlock this property’s potential in the sought after Auburn market.
Council: $1,758pq approx.
Water: $1,900pq approx.
Contact: Chris Wilding 0401 334 773 or chris@ralphfirst.com.au
