117 William Street, Devonport TAS 7310

8 Separate Units
6.9% Gross Income Fully Tenanted
6 X 2 Bedroom 1 Bathroom Units with carports
1 X 4 Bedroom 2 Bathroom Unit with car spaces
1 X 2 Bedroom 1 Bathroom Unit with car spaces
Low Vacancy rates in a strong rental market
Close to CBD Shopping Centres and Food Outlets
Essential Housing Option
3 Fully Renovated Units

Devonport is the Living City with infrastructure continuing beyond the already completed Paranaple Centre, Multi Level Car Park and Providore Place with a new Waterfront Hotel next in line. It is the gateway to Tasmania with The Spirit of Tasmania ferries sailing up the Mersey River twice daily delivering a steady stream of cargo and passengers directly to the City.
This is a unique opportunity to purchase a whole complex of 8 units. Providing a hefty 6.9% gross income the return here is much better than bank interest. These units offer an essential and affordable option in a Devonport rental market that is currently extremely buoyant and on the rise with minimal vacancy rates in the area. Four of the units have enjoyed recent upgrades internally and maintenance completed on roofing and heating.
The property encompasses 6 separate, 2 bedroom units and a house that has two separate tenancies. The house has been extensively renovated with a new kitchen and bathroom in unit 1, and updates currently continuing in Unit 2. Unit 2 has 2 living areas, 4 bedrooms and 2 bathrooms. Two of the rear units have been completely renovated with the others having upgrades including fresh paint, bathrooms and carpets maintained over the past few years. Roofing has also been replaced where required. Vacancy rates are very low.