CASINO, 2 Pioneer Street

$425,000

POSITIVE CASH FLOW WITH UPGRADE POTENTIAL

Interstate owners are committed to new project and are liquidating their most treasured investment property.
• Property consists of 7 timber, fibro and iron bedsits with onsite parking and 2 street frontages
• Currently returning $140/week each or $46,883.20 p/a with allowance for 8% vacancy rate
• Outgoings include RVC rates & services, insurance and agent fees of approx. $16,145
• Net return at asking price of approx. 7.06%
• Ongoing upgrade plan and some creative thinking would lead to reduced vacancy rates and increased profitability
With low cost and short term housing in great demand this property is well placed to take up a much needed place in our local rental market.

Agent Details
Mark Formaggin
Mark Formaggin Download vCard
0418 623 779
Mark Formaggin
Inspection Times

There are currently no inspection times for this property.

7
Bedrooms
7
Bathrooms
1
Car Spaces