'Motivated Vendors' Current gross rental return annualised is $91,260 St Johns Holdings ground rent being only $14,950 per year, paid in 2 six monthly instalments. The 21 year lease expiring in January 2027 with rights of Renewal.
The block was built in the 60s and was re roofed several years ago. It contains four of 2 bedroom flats. Flats 1 & 2 are downstairs and each has a private concrete patio area off the lounge. They are effectively mirror images of each other. Flats 3 & 4 are upstairs, and internally, are also effectively mirror images of each other. Flat 4 (the rear flat) also has a large, sunny, elevated deck area, there is a single garage under this but the garage is not currently allocated to any of the flats.
The internal area of the floor plans shown here are Flats 3 & 4. The Flats 1 & 2, respectively, are virtually the same internal layout as their upstairs counterparts.
There is ample off street parking for at least 8 cars plus the unused single garage.
The return on investment is quite exceptional. Don't hesitate to call me. All viewing is by appointment and allowing reasonable notice to the tenants. Very motivated vendors.