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Buyers looking in the excess of $2m+ price range

43 Bay Road,New Town TAS 7008

Apartment10bedrooms10bathrooms11garage spaces
Block size: 931 m² approx.

First class investment

New Town, sitting just over 3kms from the Hobart CBD, has a long distinguished history boasting some of Hobart's most beautiful character properties in a suburb that is thoroughly sought after. 43 Bay Road in New Town holds a prime location and will be appreciated by astute investors looking for a sound investment.

The apartment complex, originally built in 1953, has enjoyed a comprehensive refurbishment both external and internal to provide 10 units with fabulous presentation throughout. The brick exterior is rendered and recently repainted whilst roofing and guttering have been replaced and plumbing and individual unit wiring has been upgraded. The units have undergone extensive upgrades and are modern, bright and sunny with quality renovations and well thought out design.

Currently all leased with reliable, mostly long term tenants who enjoy the modern conveniences and close proximity to amenities including shops, transport, Hobart CBD and cafes. There are 11 designated off street parking spaces and bike storage facilities. Currently privately managed and maintained by the owner the ongoing opportunity includes an active participation or a hassle free investment with good returns and much of the upgrade work completed. With rental demand in Hobart showing exceptional growth the appeal of this extensive apartment complex in such a prime location makes for the perfect investment with growth on the return certainly anticipated.

Current total gross rental return $133,250 p/a
Council rates $6,300 p/a
Water rates $2,600 p/a

Further information including current valuation and recent rental appraisal is available.
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Inspections

No open times scheduled. Contact Agent to arrange a viewing.

Key Details

Property Type:Apartment
Block Size:931 (approx)
EER:0.0

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What's Nearby

Bowen Road SchoolPrimary School
0.6km
Ogilvie High SchoolHigh School
0.8km
Rehabilitation TasmaniaHospital
0.5km
Shopping CentreMajor Shopping Centre
3.2km
Elizabeth CollegeCollege
2.6km
New Town Post OfficePost Office
0.6km

New Town Suburb Information

Median Sale Price For New Town
$624,000
Average Age
42 years
Population
5,968
New Town Profile
New Town Occupancy
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This listing has been viewed 35 times. It was first displayed on 17/04/18 and last updated on 24/04/18.