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.