1/215 Prince Street Grafton, 2460 NSW
Slow and Steady Will Not Win This Race
Make no mistake, this unit is about $30,000 underpriced, as the owner's situation has changed and they need it SOLD.
Their loss is your gain, so don't hesitate to long on this one. Currently rented for $350 per week, and has been consistently rented for several years, with rent continually increasing. With Strata fees of about $4284 per year, and Council Rates of about $2000 per year, then this opportunity is calculated to offer a NETT return of over 7%!
The unit is in a good condition and perfectly suited for rentals, the double brick walls are virtually indestructible, carpet is fine, and everything works. The current tenant is in a lease till mid 2025, though if you want to renovate, you can talk to the managing agent. The proximity to the centre of town, shops and schools makes it highly desirable to tenants as the rental price is often one of the lowest in the area for comparative properties.
The complex itself has 21 units, and is a mix of owner occupiers and renters. A very caring and passionate local agent currently manages over half of the units and they are constantly trying to make the complex a great place to live.
For Sale $150,000
Inspect
Inspection of this property is available strictly by arrangement only.
Contact
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Darcy Kean