The best time to buy real estate is YESTERDAY!
YES, the market has ebbs and flows, however time tells the story that investing in real estate seems to be one of the surest ways to build wealth. YES, the last few years have bolstered property prices, and even now through all the disruptions and interest rate rises, our local market has continued to hold its own. Our need for affordable housing continues to rise for all demographics.
The units at 213-217 Prince Street, Grafton have been evolving over the last decade. The façade has lifted, many units have taken renovation and as a result the value and rental returns have increased. Unit 19 is in lease until April 2024, returning $230pw with a tenant happy to stay on.
The solid brick construction is resilient. This unit has no passing pedestrians being positioned on the Western end of the top floor. The 2-bedroom unit is light filled with southerly views over Grafton’s CBD. Both bedrooms have a built-in robe plus desk, the bathroom ample, and the kitchenette has enough space for light food preparation and the living room comfortable.
Current rental income is $11,960 per annum (before management fees are deducted). Strata is approximately $3,619.04 per annum ($3,119.04 admin and $500 capital works) Council rates are approximately. $2210.00 per annum.
Historically these units sell fast and are often purchased sight unseen, or by existing holders in the complex. Be sure to make your intentions clear ASAP by contacting Kylie Swift on 0488 161 621.
