An opportunity exists for the first time in 20 years for an astute buyer to acquire
“Peppertree Apartments” a development of ten apartments situated in prestigious Macalister Street Sale, featuring 8 one-bedroom apartments, 2 studio apartments, and laundry facility all on one title.
Currently let with a return of $128,180 gross per annum (approx. 7.76%) and underpinning their capital gains and investment potential, this block of units is enhanced by an outstanding Sale location.
Situated in a quiet tree-lined street, within walking distance to the town centre, cafes/restaurants, Lake Guthridge, parkland, and public transport options. There are 5 apartments on each level and they are all in very good condition, 8 of which come fully furnished. The one-bedroom apartments configuration comprises open kitchen/meals/living, sizeable bedroom with robe and separate ensuite bathroom, while the studios offer an open living/meal/bedroom space with adjacent kitchen and separate ensuite bathroom. The well-designed double brick property sits on approx. 1000sqm’s and offers privacy through leafy vistas for tenants, 8 designated car parks, a large communal laundry and 8 storage rooms to service the 1 bedroom apartments. This represents a sound and secure long-term investment of a large landholding in a prime residential location.
These apartments can provide an affordable alternative to a motel and look after the needs of the short & long term tenant equally. The well maintained furnished apartments are stylish, individual and equipped with all the necessities.
Whether the next owner decides to be hands on or operate from afar, all the hard work has been done. “Peppertree Apartments” is truly providing a fabulous ROI in a lucrative niche market.
For a Due Diligence Checklist go to: consumer.vic.gov.au/duediligencechecklist Or call us on (03) 5144 4333