Sold
10/34 Belgravia Street, Belmont WA 6104
Sold price: $392,500
Sold: 22 Feb 2024
Sold
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10 Bedrooms
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10 Bathrooms
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14 Cars
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Landsize 1,466m2
House
View
OPPORTUNITY - Entire Modern Apartment Building (10 Units)
FULLY LEASED INVESTMENT:
• Fully leased investment of entire strata complex of 10 modern residential apartments/townhouses in the thriving City of Belmont, located in close proximity to the Perth CBD and the Perth Domestic and International Airports.
MODERN APARTMENT BUILDING:
• 2 x Townhouses (3 Bedroom + Study with 2 Bathrooms + Powder)
• 8 x Apartments (2 Bedroom with 2 Ensuite Bathrooms)
INCOME:
• Entire building securely leased to professional operator until April 2026
• Current Gross Income of circa $210,000 pa with annual CPI rental increases
LOCATION:
• 10 min drive to Perth CBD
• 5 min drive to Domestic Airport
• 10 min drive to International Airport
• 5 min drive to Redcliffe Railway Station
• 150m walk to Transperth Bus Stop
OTHER:
• Large Recreation Room
• Large Gymnasium
• 14 x Car Bays
• 10 x Individual Secure Storage Rooms
OPPORTUNITY:
There are substantial investment upside opportunities for this property.
• Easy to manage investment - fully leased.
• Annual CPI rental increses (next due in April this year)
• At the expiry of the lease in April 2026 an astute operator can take over the management of the properties and obtain the full retail rental in lieu of the current wholesale rental, which will substantially increase the investment yield.
• Alternatively, at the expiry of the lease either some or all of the individual units can be sold for the full market selling prices, and the balance can be leased for the full retail market rental.
This represents a great opportunity for an investor with a 2-3 year vision with potential for significant upside, with the majority of any new owner's holding costs being covered by the current tenant's wholesale lease.
Call Dan Ehrenfeld today on 0404 877077 for further enquires and information.
Property features
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Air conditioned
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Gas connected
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Garages
14
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Floor area
1,197m2
Property snapshot by reiwa.com
This property at 10/34 Belgravia Street, Belmont is a ten bedroom, ten bathroom house sold by Daniel Ehrenfeld at NAI Harcourts Metro on 22 Feb 2024.
Looking to buy a similar property in the area? View other ten bedroom properties for sale in Belmont or see other recently sold properties in Belmont.
Cost breakdown
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Council rates: $15,900 / year
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Water rates: $12,900 / year
Nearby schools
Belmont overview
Belmont is a mixed-use suburb that spans five square kilometres and is located six kilometres east of Perth. Established in 1831, significant growth didn't occur until the 1950s and 1960s and more recently a population increase was experienced between 1991 and 2006, and more significantly still between 2006 and 2011.
Life in Belmont
A suburban lifestyle with local commercial facilities and a major city centre close by means that Belmont residents enjoy the best of both worlds. The Belmont City Centre is a thriving local retail and entertainment sector that includes the Belmont Forum Shopping Centre, restaurants, a tavern and a cinema. Close by is the Belmont Leisure Centre which is a recreational facility with pools, a gym and plenty of sporting options. There are a number of parks and bushland in Belmont, as well as two local schools.
Belmont quick stats
High end
$762k
Median
$675k
Low end
$620k
26.2 %
Annual growth
$675k
Annual median sales price
$680pw
Annual median rental price
