Great return for lakeside paradise!
Investors take note, an extremely rare opportunity to purchase an entire block of 5 units, situated directly opposite the beautiful Canton Beach Lakefront. This block of 5 units has an impressive rental yield, with a potential "effective yield" of over 6% PA with the leverage of a comprehensive tax depreciation schedule. Comprising of 2 x 1 bedroom and 3 x 2 bedroom units, with all units being recently renovated (units 3 and 5, which are the 1 bedroom units, were previously renovated)
Please note that the internal photos are of unit 1 (display unit) which is currently used by the owners. Saturday open homes and/or initial inspections will be on unit 1 as a display unit. Genuinely interested parties will then be invited to inspect the remaining 4 units strictly by private appointment. All units are recently renovated and a tax depreciation schedule reflecting the improvements can be provided to serious purchasers.
Current Rental Return:
Unit 1 - Display unit - potential $425 per week
Unit 2 - $400 per week
Unit 3 - $380 per week
Unit 4 - $400 per week
Unit 5 - $360 per week
Key financials:
1. Approximate gross rental income of $102,180 per annum.
2. Yearly rates, land -$3,903 and water-$1,328.
3. $415,000 of improvements with comprehensive depreciation schedule.
Situated on a large 715m2 R3 (Medium density) zoned corner block opposite the tranquil Canton Beach lake front reserve with direct lake access across the road. Canton Beach is well renowned for its beautiful lakeside park-lands, BBQ areas and vicinity to excellent surf beaches. Toukley CBD, Coles shopping centre, ALDI shopping centre, medical facilities, great schools, public transport, bustling cafes, popular clubs and boat ramps are all nearby.
The possibilities are endless.
DISCLAIMER: This advertisement contains information provided by third parties. While all care is taken, Harcourts Residential & Lifestyle does not make any representation as to the accuracy of any of the information contained in the advertisement, does not accept any responsibility or liability and recommends that any client make their own investigations and enquiries. All images are indicative of the property only.
Property ID: #L32966236
