3 Young Street, KAPUNDA
Block Of Units With Great Potential In Growth Area
10
10
1
1000.0 sqm-
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Description
Currently returns $40,820.00 per annum (with great scope to increase this return), this solid brick block of units offers an investment opportunity with potential.
This single 'Torrens Title' works very well for the investor. Comprising of 6 dwellings (4 x 2 bedroom units plus 2 x 1 bedroom units), the property offers very affordable living opportunities to tenants at a price range where there is little available. As a result, demand for rentals in this rental price range is usually high & as has seen in the past, good long term tenants residing at the property.
The units feature good sized bedrooms & living areas, galley style kitchens, bathrooms with laundry facilities & private front court yards. The current owner has installed new colour bond fencing, new front & rear screen doors to each unit & new rainwater tanks.
Should these units be freshened up with new paint to the interiors plus an upgrade of the carpets & blinds, there could be a substantial increase in achievable rental return. Installation of a small colour bond fence partition between each of the rear yard areas would also improve the property immensely at minimal cost.
Approval is in place for the property to be converted from a single ?Torrens Title? to a ?Community Title? subdivision where each unit would have its own individual ?Community Title? allowing for the separate sale & ownership of the individual units. Approval received for a "Community Title" subdivision, which would allow for the separate sale/ownership of individual units (subject to conditions).
For brochures, floor plans & information on Council approvals, please contact Cindy Taylor of Homburg Brock Harcourts Barossa on 0408 086 119 or 8563 2599.