Quality Investment with STRONG Government Lease (since 2013)

This is what you have been waiting for! Are you looking for a secure property investment that is affordable and does not require a lot of upkeep?
Built in 2010 for an owner occupier, who choose quality flooring and appliances. Since the owner moved on over 10 years it has been leased to GROH (Government Regional Officers Housing). The current GROSS rental yield is 8.5% with annual rent adjustments. Rent will be paid if it occupied or not.

Some of the features:
• 3 bedrooms all with built in robes
• 2 bathrooms with quality fit- out
• 3 Toilets (2 upstairs and 1 downstairs)
• Kitchen and dining area
• Separate living area
• Laundry with bench space
• Good storage available (under the stairs and inbuilt)
• Polished wood flooring (Bamboo)
• Updated quality carpets
• Single Carport plus room for second car in driveway
• Private rear lawn and garden area
• Garden Shed
• Ducted evaporative air conditioning
• Gas Bayonets for heating
• Natural Mains Gas Connected

All this located in a sough-after gated complex with a communal pool. The complex is opposite the Hannans Boulevard Shopping centre and close to the International Golf Course, making it attractive for tenants.

• Current weekly rent is $720 per week ( updated rental appraisal $750 per week)
• 52 weeks rent means you get $37,543.90 per year
• Leased to the same tenant since 2013
• Current lease until Feb 2025 PLUS One-year option to Feb 2026
• Tenant have indicated that they want to renew the lease for a further 2-3 year
• Updated rental appraisal $750 per week ( as this is what the other units in the complex get)
• Strata Fees $2,885.40 (pays for building insurance and complex common areas)
• Council Rate $2,658.55 (2024-2025)
• Water Connection Rates $285.00 per year
If you are thinking long-term secure rental yield in a well-established regional area of Western Australia then this is for you.
Get in touch with Iris Haynes to receive further information or arrange an onsite or video viewing.

Features