Well located in popular West Kempsey within a gentle walk to main street shopping of West Kempsey is a great opportunity to invest in the unit complex formally known as "Judith Evil Complex" and now "Gateway Apartments".
On offer are 10x 1-Bedroom units and 1x 3-Bedroom unit. All single-level units with separate bedrooms including built-in robes, a well-equipped kitchen, combined dining/living areas, and separate bathroom and laundry. Parking is available on Tozer Street, however with the proximity to local shopping and on the bus route, a car is not necessary here.
All 10 of the 1-Bedroom units are currently tenanted ranging from $200 - $210 per week. However, as the current owners are a community organisation and offer disability and aged care services, rents have been kept low. We believe a fair market rent would be $270 - $290 per week with the 3-Bedroom unit able to achieve $320 - $350 per week. The increased demand for rental properties and low vacancy rates in the area offer an excellent investment for the astute investor.
Features include:
- Combined land area of 3,167.6sqm approx.
- Units feature, built-in robes, vertical blinds, good-sized living areas, separate bathroom, and laundry
- Fully fenced complex, 3-Bedroom unit having its own fenced yard
- Dual road access on Tozer Street and Hudsons Lane
- Within walking distance to West Kempsey Shopping approx. 500m
Combine all this with an easy-to-maintain yard and solid brick construction these units are an extremely rare opportunity and a great addition to your Superfund or investment portfolio and a wonderful chance to secure a rewarding long-term investment.
The property is being offered to the market by Expressions of Interest, closing Friday, 2 September 2022 at 2pm. Please contact us for a copy of the Information Memorandum and Expression of Interest Form.
DISCLAIMER: All information contained herein is gathered from sources we believe to be reliable. We cannot however guarantee its accuracy and interested parties should make and rely on their own enquiries.
