For Sale | Block of Units | 79 Canambe Street, Armidale NSW 2350 | $619,000

A CASHFLOW POSITIVE INVESTMENT WITH AN EXCELLENT RETURN

  • 8 Bed
  • 4 Bath
  • 4 Car

This is an excellent opportunity to secure a brilliant bricks and mortar investment with no Body Corp. or admin fees.

FEATURES

• 4 x 2 bedroom, 1 bathroom single storey units

• Built-in robes in all bedrooms

• Each unit has its own laundry and covered carport

• The complex has off-street visitor parking

• All four units are offered for sale by one owner and is not strata titled

• The property is on an approx. 1377 sqm level block with easily managed grounds

INVESTMENT POTENTIAL:

• Units 1, 3 & 4 are currently tenanted with the remaining unit having only recently been vacated

• Rental returns:

• Unit 1 is returning $195 per week

• Unit 2 was recently returning $190 per week

• Unit 3 is returning $195 per week

• Unit 4 is returning $190 per week

• With full occupancy based on the above rental returns, the property has the potential to provide a gross return of 6.47%

• There is scope to update the units and increase the returns

PROXIMITY TO EDUCATION FACILITIES

• 650 metres from Newling Primary School

• 1.0 kms from O’Connor High School

• 3.6 kms from Armidale High School

• 4.3 Kms from Duval High School

• 6.0 kms from the University of New England

PROXIMITY TO SHOPPING

• 700 metres from the nearest corner store

• 200 metres from the Bunnings warehouse

• 3.5 kms from the Armidale CBD (a level walk into town)

PROXIMITY TO DINING AND ENTERTAINMENT

• 1.4 kms from the nearest hotel/restaurant

• 600 m from the Armidale Jockey Club

• 744 metres to the nearest park/playground

PROXIMITY TO HEALTH FACILITIES

• 2.6 km from the nearest public and private hospitals

INVESTING IN ARMIDALE

Armidale is a thriving city with a strong and diverse economy. It has key strengths in education, health, agriculture, retail and professional services. As a regional service centre its wide range of goods and services are accessed by in excess of 71,000 people spread throughout the entire New England and Northern Tablelands area.

We will see a steep increase in the demand for Armidale rental properties from early 2018 due in part to the arrival and ongoing placement of 200 plus Syrian refugee families over the next 5 years. We have already met with and showed through representatives from Settlement Services International (SSI) with a view to securing properties now for the first influx in February, 2018. Couple this with the already tightening local market, it certainly points to an exceptionally strong position for investors.

In recent years the city has enjoyed an unprecedented level of infrastructure spending. Recent developments include:

• $18m Education and Training facility at UNE

• $3.7m Aldi Supermarket complex

• $60m Centro shopping centre development by Woolworths

• $17m College at UNE

• $6m Ambulatory and chemotherapy facility

• Completion of new nursing home and retirement village accommodation

• $6m Bunnings Warehouse

• $50m redevelopment of the Armidale (K-Mart) Plaza

• $12m police station and courthouse

Among a raft of developments currently in progress:

• Armidale Airport $10.5 million Expansion: https://goo.gl/gqAqE5

• Armidale $65 Million Super School: https://goo.gl/4aHqoQ

• Armidale $60 Million Hospital Redevelopment: https://goo.gl/yLJNF3

• Armidale Airport Industrial Park Development https://goo.gl/TULAAe

This property is proudly listed by:

First National Real Estate Armidale 208 Beardy Street
Armidale NSW 2350

Susan Moore

Agent Details
Susan Moore
0447 321 277

Enlarge Map

Open for Inspection
By Appointment

Additional information

Property Type Block of Units
Property ID 14811110397
Street Address 79 Canambe Street
Suburb Armidale
Postcode 2350
Price $619,000