Mareeba QLD 4880

Is there a better investment in Mareeba?

Returning an income of over $1100 per week, this is a great opportunity to purchase a solidly built complex of 5 x 2bedroom units on one parcel of land.

Each of the 5 units has been constructed from solid masonry block inside and out, featuring 2 large bedrooms and a bathroom. The kitchen is separate from the living and each unit has its own internal laundry.

The current owners have enjoyed a low vacancy rate over the years because of the close proximity to schools and the convenience of the Mareeba town centre. Current rents are $225 per week per unit but there is potential to renovate and improve the rent income considerably.

Unit 1 rents for $225p/week
Unit 2 rents for $225p/week
Unit 3 rents for $225p/week
Unit 4 rents for $225p/week
Unit 5 rents for $225p/week
Total rental income of $1125p/week represents 7.8% pa gross return, on the asking price of $750,000.

This is a property where your income is spread through 5 separate & individual rents, when 1 tenant decides to shift out you have the benefit of still receiving income from 4 other units.

$750,000neg

Contact EXCLUSIVE agent JOHN GONCALVES at Ray White Mareeba on 0407690961 for more details.