Unit 92 at Glenefer Gardens in Runcorn represents a fantastic investment opportunity with a rental yield over 6%. With property growth predicted by Australian Property Investor to increase over the coming years and low interest rates, now is the time to invest. Within the same complex, there is a 2 bedroom unit for sale listed at $285,000 validating the competitive asking price for Unit 92.
Unit 92 is currently rented at $360 per week on a long term 12 lease which expires in August 2015. The tenants who are keen to stay on also have 2 x 6 month extension options. A rent review of $360 per week would be made June/July 2015 prior to the issuing of a new lease in August 2015.
Unit 92 is a 2 story brick veneer townhouse containing 3 large bedrooms (2 with built-ins) and a bathroom consisting a shower, bath and toilet upstairs. Downstairs the unit boasts a large kitchen, dining and lounge room with a second toilet located in the laundry. The unit has recently had an upgrade with new stainless steel sink and flickmaster in the kitchen, two new toilets, new easy-to-clean low maintenance swinging shower door and a new digital TV antenna. Unit 92 has an external carport with garage door and parking for 1 car however the complex has over 50 additional car park spaces which allow a 2nd car to be easily parked. Unfortunately Glenefer Gardens does not allow any animals to be kept.
The body corporate fees are very low at only $1900 per year as there is no pool, gym, tennis courts, BBQ or community areas for the caretaker to maintain. Under the caretaking agreement the caretaker also maintains Unit 92 backyard, which is advantageous when attracting new tenants. The complex is about to undergo and fence replacement program.
The unit is managed by an on-site manager who charges lower management fees than outside agents and provides an excellent service. The on-site manager also maintains a fantastic website for tenant and owner information.
Stats :
Asking price : $ 303,000
Yearly rent (paid fortnightly) : $ 18,720
Yield : 6.2%
Body corporate levies : $ 1900 per year or $36.50 per week
Rates and Water : $ 2000 per year or $38.50 per week
Area : 115 square meters
Contact : Troy Edwards
Email : troy@shinerealty.com.au
Mobile : 0416 060 37
If you would like an inspection then please do not hesitate to contact Troy. Current tenants would prefer an inspection to be late afternoon.