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Sold: Lot 10, Tamworth, NSW

Sold: Lot 10, Tamworth, NSW

7.90%  83  2 Bedrooms 1 Bathrooms

Tamworth Regional Council is one of the biggest councils in inland NSW, with a population of over 58,000 and a prosperous economy based on building, retail, industry, hospitality and agriculture.

Tamworth is best known as Australia’s Country Music Capital, hosting the award-winning annual Music Festival which sees the regions population double and is the largest music festival in the southern hemisphere and one of the top 10 in the world.

Tamworth boasts a busy year round calendar of events and festivals, locally grown food and wine, country experiences, outdoor recreation and vibrant heritage, museums and arts.

A solid investment apartment in a region that attracts residents, investors, workers and visitors alike.

Apartment Asking Price Status Design Gross Return Weekly Rent Rent p/a
Lot 10 $225,000 Sold  2BR 7.90% $342 $17,786

 

Current Rent: $342 per week  ($17,786 per annum)
Current Return:  7.90%
Lease Terms: Lease to 1/10/2017 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2017)

Approximate Owner Outgoings:
Council Rates and water rates : $1700 pa approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $1180 p/a
PLEASE NOTE:  As is common to all Quest Apartments, apartment upgrade works are scheduled to maintain the Quest standard. The current owner has recently completed kitchen upgrade and repainting.
Further capital works due include kitchen re-tiling, bathroom upgrade and re-carpeting.Should you require any further information please don’t hesitate to contact us.

 

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