Unfortunately due to divorce I need to sell this property urgently and release the equity.
This is a set of 4 x 2 bedroom units in Rural NSW (Wee Waa near Narrabri).
Over the last 2 1/2 year these flats have been 75%-100% occupied. There are current 3 units rented out at $100 per week each. Units are partially furnished with great depreciation benefits and show a strong past rental history- sell price $165,000 however serious offers over $150,000 will be considered. Similar units have sold over the last 2 years in this town for $200, 000+.
Genuine investors looking for a great long term investment are encouraged to make contact
This property is negatively geared currently and a little over neutral if all tenanted but with 75%-100% occupancy probably neutral unless some effort is gone into management and securing tenants. Where is it that you earn the $300 or $400 a week?
Sorry to hear about your divorce.
Pls email me your details
Ronald S
[email protected]
Thx
To Jaffasoft,
This is a set of 4 units with 3 currently rented at $100 each. That's how I got the $300 – $400 per week. With $15600- $20800 rental income per year, these are definately positively geared even before depreciation. There is no way you would be paying $300 a week to cover the interest on a mortgage plus any incidental expenses. On top of that there is around $5000 in depreciation benefits in each unit. I know from my bank account that these are positively geared as I have owned them for 2 1/2 years.
Regards
I thought that this has been advertised few months ago…
This seems to fit the discription! http://www.realestate.com.au/realestate/agent/wee+waa+properties+agency+co+wee+waa/iqkdwj/page2/105299643
They look like dog boxes
Offer 100k probably… as there is a minimal value of the buildings
The thread title sort of sounds like 300-400cf+…but anyway, this may be a good deal for someone…dog box or not…
Hmmm,
I always get concerned when the description on the realestate.com.au site isn’t actually a feature that relates to property.
The first line is comes with A/C, refrigerators and a stove… these features related to a caravan
For some reason it just doesn’t grab my attention like “North facing with ocean views”
You must be logged in to reply to this topic. If you don't have an account, you can register here.
