SOLD…… “THE CASTLE” as it is historically known, is for sale!
This Iconic Stone fronted 1950âs unit complex, located on the corner of Belgrave Street, comprises 6 spacious 1 bedroom units & 1 large 2 bedroom unit & is currently generating an approximate income of $80,000. As they are all on the one title, it presents as a superb opportunity for long term investors, developers & ideal for those self-managed super funds (subject to independent advice).
The accommodation in all units is spacious & zoned comprising separate kitchen/meals areas, good size bedrooms & bathrooms & separate living rooms.
The units also feature Jarrah floorboards, some with updated kitchen & bathrooms (unit 1 & 7), wall unit reverse cycle air conditioners, rendered internal walls, all electric kitchen appliances & individual hot water services, compliant fire walls & some car parking.
Outgoings for this property are very modest with water rates & usage currently paid by the vendors, & rental history is documented & available for viewing.
There are many opportunities that are presented here with options to maintain the current status, upgrade & sell now or in the future, lock your money away & enjoy a healthy return or even develop, subject to council consents.
Please contact Agent for Inspection
Year Built: 1955 & Land size: 820 sqm approx.
Council: West Torrens Residential Policy Area 18
Council Rates: Unit 1 $882.85pa & Unit 2 to 7 $880.30pa each
Water Rates: $281pq
Expressions of Interest