Yes you read it correctly, this multi-tenanted property represents excellent value for the astute investor.

The property comprises 2 x 2 bedroom units, 1 x 1 bedroom unit and a large detached garage which are all separately tenanted and currently generating a total rental return of $798 per week.

Positioned on a large 784m2 lot in a quiet, central residential Umina Beach location, the property is only 5 minutes drive to beach and railway and minutes walk to public transport.

With all the key investment attributes covered above, the property also offers amazing prospect for rental and capital growth. Being in mostly original condition throughout, the income stream can be significantly grown in time with a basic refurbishment program. Current rents as follows:

Unit 1 – 2 bedroom, 1 bathroom, single carport, detached laundry – $250 per week
Unit 2 – 2 bedroom, 1 bathroom, single carport, detached laundry – $255 per week
Unit 3 – 1 bedroom, 1 bathroom, single carport, internal laundry – $220 per week
Garage – large lock up storage garage – $320 per calendar month

Furthermore the property benefits from the potential to strata subdivide (subject to council approval), which would provide flexibility in title and the potential to on-sell in the future on an individual basis.

(Note – Strata subdivision approval was granted in 1980 but never implemented. Approval letter available upon request).

Disclaimer: We have obtained all information herein from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.