Purpose of Purchase: Investment
Property Type: House
- Low maintenance.
- Set and forget.
- Strong depreciation.
- Strong rental return and yield
- The home was 7 years old
- Brick and tile construction
- Above average level of internal fit out, 9 foot ceilings, ducted a/c and stone benchtops throughout.
- Park across the street
- Walking distance to Griffith University
- Good access to the Bruce Highway
A Successful Investment:
This was the client’s first investment property and they wanted a property that would be low maintenance and set and forget style.
This property was ideal as the home was fairly recently constructed. We were in a multiple offer scenario with 1 other offer, at very similar money however it was our stronger contract conditions which got our offer over the line.
A few small items were found from the building inspection, the dishwasher wasn’t connected, low water pressure found in the shower and the rainwater tank was not connected to storm water. As part of our ongoing negotiations we had the Sellers rectify all these issues prior to settlement.
The big positive with this opportunity was that the same tenant had resided in the house since it was built 7 years ago. This tenant has basically kept the house looking like an owner occupied home for all of those years. Whilst the tenants lease was due to expire a few months after settlement he informed us that he was keen to stay on for another 6 month lease, which was perfect for our clients to lock away a high quality tenant and have zero vacancy post settlement.