The subject property is located at 693 Sandringham Road, Sandringham comprising 136m² of Freehold land and approximately 172m² of solid building over two levels. The property has an 85% NBS/earthquake rating.
The property includes an upstairs two-bedroom apartment which was built in 2001. This is rented for $500 including per week, which equates to $26,000 per year.
Below, on the ground floor is a retail shop which has been run as a convenience store for over 20 years. The ground floor tenant is being offered with a rental of $30,000 plus GST on a 1+1 year lease.
The total return on the property is $56,000 per annum. The asking price is $1,150,000 which equals almost 5% return!
With money in the bank virtually worth nothing, stick your nest egg here and watch your investment grow.
An information pack is available on request. For a viewing, please make contact to arrange a time.
KEY FEATURES: • Freehold retail/residential investment • 85% NBS/earthquake rating • Retail tenant has been operating for over 20 years • Growth area on good street