Type of Property: Apartment
Reason of Purchase: Investment2 1 1
This unit in the heart of Spring Hill was purchased for a repeat client, the strategy for this purchase was yield.
The property had recently been renovated by the seller and was tenanted throughout the sales process, the seller had agreed for the tenant to be placed on a periodic tenancy. Hot Property Buyers Agency was able to purchase this property for a great price and Hot Property Management was able to secure the tenant on a fixed term tenancy post settlement.
A big bonus for this unit, is that it has its very own private laundry room, so it does not take up room in the bathroom and you do not have to share with other residents of the complex.
Upon the tenant vacating the property, our client will get in and do a quick tidy up of the bathroom by way of adding a shower screen, a vanity with more storage and repainting the ceiling where there has been some previous staining.
Rental Return: $380 per week with scope to improve
Bed / Bath / Car: 2/ 1 / 1
Proximity to CBD: 1.29 km