3 Hare Street, Moil NT 810

Text '3HARE' to 0472 880 252 for all property information.

A BLOCK OF SIX, TWO BEDROOM APARTMENTS IN DARWIN’S POPULAR NORTHERN SUBURBS!

CURRENT RENTAL INCOME: $102,440 per annum

An invitation to register your interest, carry out due diligence and inspect.

This secure investment will not last long on the market. Contact Andrew Harding at Real Estate Central by text or phone 0408 108 698 to arrange an appointment to view.

Six quality tenanted two bedroom apartments situated on 1180 square metres of land in Darwin’s northern suburb of Moil is available for sale - 10 minutes by car from Royal Darwin Hospital and Casuarina Shopping Square, walking distance to local schools, shops public transport. Current rental income is $102,440 per annum. All current tenants are in full time employment. No Body Corporate dramas!

All apartments have been fully or partially renovated. They are spacious, breezy and comfortable to live in. This is an opportunity to purchase a going concern! Three of the units are fully furnished with quality furniture and appliances. Each unit has a pleasant outlook and ample natural light.

Features:
• 6 x 2 bedroom 1 bathroom units each 62 sqm (excluding verandas & courtyards)
• Air conditioned, most with modern split systems and ceiling fans.
• Ample off-street parking 2 cars per unit. Room for two cars in front courtyards of
downstairs units.
• All units have built in robes and linen cupboards.
• Fully tiled (except for one unit which has vinyl floor covering in living area)
• Tiled bathrooms with vanity in each.
• Individual laundries.
• Electric kitchens with ample work surfaces and good storage.
• Private balconies to upstairs units.
• Paved lock-up courtyards front and rear for the 3 downstairs apartments.
• Lock up storage sheds for each apartment.

Tenancy turnover varies but tends to average approximately 2 years. A current tenant has been resident for 16 years. A number of tenants have used their tenancies as a springboard to home ownership renting for a number of years whilst working and saving. The units are affordable on a single income.

The property is managed by the owners who are resident interstate several months each year. Good working relationships with local tradespeople have enabled management from a distance without the need to employ an agent. Secure retirement income.

Prospects
• The units can be strata-titled at a reasonable cost.
• Current rents are well below market because the owners have a relationship with
the tenants and have placed a high value on retention.
• The land size presents opportunities.

Rental Estimates June 2021:
Units 1, 2 & 3 - $390-$420 p/w
Units 4, 5 & 6 - $360-$380 p/w

Council Rates: Approx. $8,890 p/a
Area Under Title: 1180 square metres
Year Built: 1974
Zoning: LMR (Low-Medium Density Residential)
Status: Tenanted - Refer to webbook for details
Building Report: Available in Webbook
Pest Report: Available in Webbook
Settlement period: 30 days or negotiable
Deposit: 10% or variation on request
Easements as per title: Sewerage Easement to Power and Water Authority