Opportunities like these do not come along every day.
This a mixed use property consisting of a commercial tenant downstairs and a residential tenant upstairs. At 146m2 this two storey comprising of a two bedroom 73m2 with balcony upstairs rents at $370.00 per week on a fixed term lease expiring 18th February 2018 and a 73m2 Commercial Unit below achieving $300.00 including GST per week. These Units have been very popular for small businesses looking for storage and an office down stairs while offering the ability to either live upstairs or have a tenant subsidising your mortgage.
The Vendor has owned this property since new, and has done a high quality fit out upstairs and downstairs providing a shower, toilet and kitchen in the commercial unit.
With three auxiliary Unit Car parks attached to the title, this could also be a great Investment Property to a discerning Investor.
Based on an asking price of $425,000, with the land value at $124,000 and the commercial portion of 73m2 calculated at $2,000m2 (local market rate) being $146,000, this equates to the residential valuing at $155,000 ($2,123m2) which is well below replacement build.
This is a pre-cast concrete tilt slab construction which is a far superior product and is very costly to build. These units rarely come up for sale, being a unique a dual income commercial/residential property. Of all the units in the complex there is only a few that have mixed used residential certification, this unit being one of them.
Viewing is by appointment only.
Marketed by Paul Charlett
Innov8 Ltd - Licensed under REAA 2008
