Affordable three-bedroom units in great neighbourhoods close to the CBD are rare indeed. This one however, is within easy access to a couple of good schools, across the road from a great café, and a nice walking distance from the CBD. The chances of finding such a good, neat, sturdy looking 3-bedroom unit in this price range in this location is like finding a needle in a haystack.
Although a little dated, the unit has always had the benefit of good maintenance. Given its premium location it is well worth considering as a makeover project which could increase both its capital value and its return on investment.
The unit has a beneficial north-facing aspect and receives plenty of natural light and warm winter sunshine. It has built-ins in all three bedrooms, its own laundry and a covered carport.
Investment potential:
•The unit is currently tenanted and returning $285.00 per week in rent
•There is scope to update the unit and increase the returns
Proximity to Education facilities (approximations only)
•350m from Armidale City Public School
•1.1 kms from The Armidale School
•5.5 kms from the University of New England
Proximity to Shopping
•950m from the CBD
Proximity to Dining and Entertainment
•800m to the nearest hotel/restaurant
Proximity to Health Facilities
•1.8kms metres 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.
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
