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A High Return Fully Leased Investment Property
A fully leased Residential & Commercial investment returning approx. $31,700 net return pa (before property management fee)
This is the best of both worlds as it is a modern, 2013 build, 3-level townhouse style property on a survey-strata, with a well leased office on the ground level and a leased 2 storey - 2 bedroom, 2.5 bathroom apartment above.
The ground floor comprises a double lock up remote-controlled garage that the units share, with an approx. 53m2 office that has it's own disabled size toilet facility and a kitchenette. This commercial unit is currently leased to a Chiropractor on a near fresh 3 year lease with a 2 year option where the lease commenced on 1st August 2022.
The garage also provides stair entry to a 2 storey, furnished 2 bedroom apartment where on the first floor is a very modern and stylish living area of approx. 70m2 comprising of a modern well appointed kitchen, meals and family/lounge area plus a laundry and powder room plus 18.8m2 of balconies.
The first-floor rear balcony is an ample sized approx. 16m2 balcony that has views towards the ocean & overlooks the complex pool area.
Upstairs on the top level of approx. 70m2 there is an open family/study area and provides access to 2 bedrooms and a bathroom . The main bedroom is very large with an ensuite, carpeted walk-in robe and has impressive high ceilings. There is a large second bedroom and a bathroom.
The tenant entered into a 1 year lease that commenced 13/6/22 @ $460 pw fully furnished and a rent review due in 6 months.
The unit is reverse cycle air conditioned. The resident has access to the swimming pool.
A great little investment that gives a high return with long leases and also provides the potential for doing property and furniture depreciation to maximise the net returns to the astute buyer.
Call or email Peter Vetten for more info
DISCLAIMER: Every care has been taken to verify the accuracy of the information contained in this advertisement, but no warranty (either express or implied) is given by Raine & Horne or its agent, as to the accuracy of the contents. Purchasers should conduct their own investigations into all matters relating to the proposed purchase of the property
Property features
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Garages
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Property snapshot by reiwa.com
This property at 3/106 Mandurah Terrace, Mandurah is a two bedroom, two bathroom unit sold by Peter Vetten at Raine & Horne Mandurah on 04 Jun 2023.
Looking to buy a similar property in the area? View other two bedroom properties for sale in Mandurah or see other recently sold properties in Mandurah.
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Mandurah overview
A vibrant mixed-residential and commercial suburb, Mandurah is the heart of the Peel district. Once a small fishing village, Mandurah has evolved into a thriving regional city and a popular destination for tourists. Situated along Western Australia's coastline, Mandurah has firmly established itself as a first class 'sea change' destination with an array of property developments that include everything from family homes, to modern apartments in new estates and luxurious mansions with canal views.
Life in Mandurah
An alluring mix of inner-city panache and classic suburban culture define the Mandurah lifestyle. As a result of the 'sea change' phenomenon which transformed the suburb, Mandurah is now home to a major shopping centre, quality restaurants, charming retail outlets, a bustling foreshore and a pulsating boardwalk. Throughout the year, Mandurah hosts several popular annual events such as the Crab Festival in mid-March and the Mandurah Boat Show in mid-October. Other notable features include the Mandurah Train Station, which provides a fast transport option into and out of the Perth CBD, and local schools, Mandurah Primary School, Mandurah Baptist College, Mandurah Catholic College and Frederick Irwin Anglican School.
Mandurah quick stats
High end
$510k
Median
$450k
Low end
$395k
26.8 %
Annual growth
$450k
Annual median sales price
$500pw
Annual median rental price
