14 Macintosh St is an exceptional opportunity to buy all four apartments plus studio / Granny flat (in one line) with potential to further increase on the current investment via renovation, or to realise the full value of the full site via development.
14 Macintosh St is perfectly positioned in the most central location of Forster where you are within 500 metres of the Main Street, including cafes, shops, lake and the beach being only a 220m walk from the front door.
If you were less adventurous, or perhaps a long-term player, the land banking option would be a wise decision as land parcels with this zoning rarely present, especially in such central locations, or possibly add onto the site and increase your footprint with a second acquisition.
The Forster residential market is firing with huge demand for lifestyle investment opportunities and a huge demand for rental units. Showing a 5.5% gross return with scope for rental increases to meet the current market.
BUILDING:
2 x 2 bedroom units, 2 x 1 bedroom units, plus Granny Flat / Studio
619.7sqm land parcel with 15.3m frontage and 40.2m side
ZONING:
R3 Medium Density
Maximum Height 12m
FINANCIALS:
Outgoings:
Rates $3291.28
Water $3000 approx
Electricity $2000 approx (common areas and hot water only)
Total Outgoings as Above $8,291.28 approx
Rental Income:
U1 = $10,400 at $200pw
U2 = $10,400 at $200pw
U3 = $9,360 at $180pw
U4 = $9,360 at $180pw
Studio = $10,400 at $200pw
Total Rental Income $49,920
For further information on the property or to organise a private inspection please contact Alex Jacobs at JKL Real Estate on 0400 643 317
*All figures and distances are estimated and should be relied upon as a guide only.
Features
- Shed
- Shared hot water / separate electricity / new roof being put on the back
