Investors take note… a rare opportunity to secure an entire block of six units in the highly sought suburb of East Maitland has arrived. Set in a spacious residential area, within minutes of Victoria Street train station, this handy location offers the ideal setting for your next portfolio addition.
Built in 1982 of brick and tiled roof construction, this impressive block of units includes a dedicated car space within a carport for each dwelling, along with compact, low maintenance gardens at each entrance.
Designed with four units of the same floor plan on one side and two units of the same floor plan on the other, each unit features an open planned dining / living room upon entry, with a large kitchen featuring a freestanding oven / stove, laminate benchtops, ample cabinetry and a convenient breakfast bar.
There are two bedrooms located in each unit, all of which include built-in robes. These rooms are serviced by the extra large bathroom layout that includes a shower, separate WC and space for the laundry. Located at the rear of the complex is a shared backyard space for the tenants to enjoy.
With all but one unit currently tenanted, this listing presents an exciting opportunity for the avid investor. Position perfect with an enticing long-term rental yield, this property offers a unique prospect that's often sought, yet seldom found. Individually titled, the complex offers the ability to sell off each unit at your leisure.
Locations do not get much better than this, with Maitland's newly opened hospital 2 minutes by car, Victoria Street train station a short stroll, and the destination shopping complex, Green Hills mere minutes away. Further afield, you'll find Maitland's heritage CBD and riverside Levee precinct just 10 minutes away, and Newcastle's city and beaches a 35 minute commute.
Make no mistake, an opportunity of this nature is sure to appeal to a broad range of investors, with a large volume of enquiries expected. We encourage our interested clients to contact the team at Clarke & Co Estate Agents today to discuss this opportunity further.
Property information:
- 1311 sqm block with future development potential (STCA)
- Solid brick construction with internal brick walls
- Approx. 1983 build
- Council Rate: $1,400 approx per annum per unit
- Water Rate: $682.20 approx per annum per unit
- Water usage costs vary per unit
Property Breakdown:
Unit 1 – 2 Bed, 1 Bath, 1 Car
Current rental return: $310 per week
Lease expires: 22 June 2023
Market rent: $360 per week
Unit 2 – 2 Bed, 1 Bath, 1 Car
Current rental return: $300 per week
Lease expires: 29th June 2023
Market rent: $360 per week
Unit 3 – 2 Bed, 1 Bath, 1 Car
BECOMING VACANT
Market rent: $290 per week
Unit 4 – 2 Bed, 1 Bath, 1 Car
Current rental return: $300 per week
Lease expires: 14th April 2024
Market rent: $360 per week
Unit 5 – 2 Bed, 1 Bath, 1 Car
VACANT
Current rental return: $380 per week
Unit 6 – 2 Bed, 1 Bath, 1 Car
Current rental return: $300 per week
Lease expires: 22 June 2023
Market rent: $360 per week
TOTAL RENTAL RETURN:
Current: $1,950 per week ($101.400 P/A)
Market Rent: $2,180 per week ($113,360 P/A)
Rental Yield (current rent): Approx. 5.79%
Rental Yield (market rent): Approx. 6.47%
(Market rent minimum $360 per week, upon current lease expiry, rent can be increased)
Why you'll love where you invest;
- Located just 3 minutes from the newly refurbished destination shopping precinct, Green Hills shopping centre, offers an impressive range of retail, dining, and entertainment options right at your doorstep.
- Only 3 minutes to Maitland East Public School, St Joseph's Primary school, Maitland High School.
- 3 minutes to New Maitland Hospital.
- 3 minutes to Maitland Junior Football Club.
- 2 minutes to Lawes Street Shopping Village.
- 2 minutes to Victoria Street Train Station.
- Less than 9 minutes to Maitland CBD, boasting a vibrant restaurant scene along the newly revitalised Levee riverside precinct.
- 35 minutes to the city lights, sights & beautiful beaches of Newcastle.
- 45 minutes to the gourmet delights of the Hunter Valley Vineyards.
***Health & Safety Measures are in Place for Open Homes & All Private Inspections
Disclaimer:
All information contained herein is gathered from sources we deem reliable. However, we cannot guarantee its accuracy and act as a messenger only in passing on the details. Interested parties should rely on their own enquiries. Some of our properties are marketed from time to time without price guide at the vendors request. This website may have filtered the property into a price bracket for website functionality purposes. Any personal information given to us during the course of the campaign will be kept on our database for follow up and to market other services and opportunities unless instructed in writing.
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