10 individual units, all on one title, on a huge 1,893 sqm premium corner site.
Each unit has its own gas and power meter and water is split between the units.
At the present time there is 100% occupancy bringing in $2,175 per week.
This equates to approx $113,100 per annum.
With the opportunity to earn an above average gross rental and on such a significant corner land mass of 1893 sqm, these units and land offer a significant current and future return on investment.
As an owner, you will appreciate that you "control" the entire site and not just one or two units in a larger grouping. Better than just one building where your earnings turn to zero if the tenant moves out, this group has all tenants on staggered 12 month agreements and if one tenant decides to move, you still retain 90% of your income for a short time whilst a new tenant is put in place.
These very low maintenance units are in a significant location close to transport, Flinders University and Medical Precinct, Marion Shopping Centre and Aquatic playground.
Students & Professionals tenants working in the region will appreciate the easy commute or cycle to learning institutions or shopping just near by.
With the City of Marion looking to increase density of housing within its local areas, this land is ripe for further development, subject to council consents.
There fore you can either retain this site for rental as it is, or have a significant holding income pending approvals to further enhance the site.
The decision is yours!