Not only do the numbers stack up as an investment for this property; you will be buying a piece of Candelo history that has been lovingly restored.
This impressive structure has a long history in Candelo and the current owners have spent a number of years ensuring it will continue to be a key part of the Candelo architectural landscape for years to come.
With long term commercial tenants downstairs mid-way through a 3x3x3 lease and a great residential tenant upstairs who has been in place since 2014, this is as secure as an investment as you will find.
The downstairs is taken up by the Candelo Post Office and has a reception area, sorting rooms and PO Boxes. This area is separately metered from the upstairs unit.
Upstairs there is a four bedroom unit with renovated bathroom and lovely decks at the front and the back of the property. Given its size and location this is always going to be a popular rental. Alternatively you could reduce your mortgage by living upstairs whilst you rented downstairs.
At the back of the block there are also two good sized, secure sheds. The roof was replaced in 2012 and the current owners have been fastidious with maintenance. You can purchase this property with confidence in the structure of the building.
With gross annual income of over $23,000pa this is a brilliant way to get into the investment market.
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A block's planning zone defines how that land can be used and what can be built on it.
A right to use a part of land owned by another person for a specific purpose. The most common forms of easements are for services, such as water, electricity or sewerage.
The value of a block of land without any buildings, landscaping, paths, or fences. This is different to the block's market value. A block's unimproved value is used to calculate rates and land tax charges.
This represents the shape of the geographical land. Closely spaced contour lines represent a steep slope. Widely spaced lines represent a gentle slope.