Mount Cook 1/27 Drummond St

CITY FRINGE CA$H COW - TENDER BEO $399,000

OUT OF TOWN OWNERS WANT IT SOLD

Ching - ching - ching. That's the sound of the rent rolling into your bank account from this city fringe cash machine. Like clockwork.

If you are looking for:
HIGH DEMAND CITY FRINGE LOCATION: close to supermarket, hospital, convenience shops, parks, buses, universities, cafes, parks, and the city. You will always have plenty of tenants wanting to rent this property. LOW EFFORT - LOW MAINTENANCE: modern construction (all checked out with a builder report available) means it is warm for the tenants, and it doesn't eat your valuable time with maintenance. HIGH INCOME: strong cash-flow, combined with low mortgage rates, means it should produce a steady & reliable stream of positive cash-flow. Passive income is what you need in order to retire.
Then you need to check out this excellent investment apartment.

Rented for $700pw until 20 Jan 2016. Four generous double bedrooms. One bathroom. Modern construction, insulated, warm. Tenants love it. Close to everything, but down a quiet lane for peace and privacy. Small block of just 7 purpose built apartments.
CASHFLOW ANALYSIS:
RENT: $700pw = $36,400pa Gross (Gross yield of 9.1% at the BEO price) Less RATES: $1,801.57pa Less BODY CORP: $3,696pa NET RENT: $30,902.43pa
That's a gross rent of 9.1% or a net rent of 7.75% pa at the BEO guide price. Big cash-flow.

LIM & Builders Report available to qualified buyers.

For sale by TENDER (if not sold prior):
Guide price of BEO $399,000Closes 1pm Thursday 13 August.
Contact Adam for more details.

Property Information

• Floor area approx 87sqm