54 O'Dell Street, Armidale NSW 2350

What a fantastic investment opportunity! These units are ideally located between town and the university and have a record of longer term tenancy. 3 of the 4 units are in current leases and the fourth has been occupied by the same tenant for over 3 years. There is an opportunity for a rental increase when that lease is renewed to bring it into line with the other tenancies.

The complex comprises 2 blocks each of 2 units. All units have the same floor plan and include 2 bedrooms with built-n wardrobes, open plan kitchen/lounge/dining, separate laundry and a bathroom. A small, private terrace is also provided. The units have been particularly well maintained and 2 units have had kitchen upgrades and 2 have new bathrooms. A single carport is provided for each unit.

The property is currently grossing $43,940 per year which shows a 6.8% return at the asking price. With the suggested lease upgrade, that return would increase to 7% virtually immediately.

Perfect location, solid rental history, big block, excellent condition and great returns. What are you waiting for?