4 Abraham Place is a two storey solid character 1960's weatherboard property in four individual flats with surplus land at the rear.
For the buyer, the lessor has agreed to HALVE the ground rent for the duration of the development works while the addition of two more dwellings at the rear of this property are built.
The vendor has had a topographical survey completed and architectural concept plans drawn up.
The current income from the 4 rentals is $96,720. Add say $50,000 in additional income and you have a solid investment with a potential return of of plus 10% on the capital invested.
Flat 1: Two double bedrooms, large lounge, separate dining, deck and garage - 101sq.m
Flat 2: North facing one bedroom unit (upstairs with sunny deck) - 48sq.m
Flat 3: North facing downstairs one bedroom unit opening to garden - 48sq.m
Flat 4: One bedroom downstairs unit with an extra large lounge - 60sq.m
(Floor area source: (Cotality)
The location is quiet but close to public transport and close enough to all the amenities the suburb of St Johns has to offer.
