1 Niagara Street

Armidale NSW 2350

A terrific opportunity to own 8, extremely well maintained brick and tile units on one title with full tenancy, and a terrific return, that has finally hit the Armidale market. Each of the 8 x 2 bedroom units are all self contained and private, and a mere 1200m to the college precinct of The University of New England. The locale is well serviced, with several shops, restaurants and cafes at the Harvey Norman Shopping Complex, and is on the bus route from the CBD to the university. The area also has two childcare centres, one only approximately 190m away.

The units have 2 bedrooms with each, all with built-ins, open plan living, dining and kitchens which are generous spaces for the construction type. There are slightly different configurations on the northern side units to the southern side units, with the 4 southern units with galley style fully electric kitchens. All of the 8 units feature RCAC heating and cooling. All are well orientated for light. Most units have updated hard flooring in high traffic areas and carpets in the bedrooms, and new paint. All are in good condition, and the owner and the managing agent have kept the property in outstanding order and very well maintained.

The current combined rent based on current lease terms is $122,460 p.a, with several new leases offered to the tenants that are in periodic lease. This represents a a healthy 5.62% at the current asking price, with the prospect of improving the yield with improved rental market conditions, or further capital improvements. Good rental histories and full tenancies have been the hallmark of this seriously fruitful and rare type of investment property. Book your virtual or physical inspection with First National Armidale today!