FOR SALE
$2,000,000

8-10 Grills Place
Armidale NSW 2350

Bedrooms: 16
Bathrooms: 8
Car spaces: 8
Land area: 2111m2
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Exceptional Investment Opportunity

Step into a lucrative opportunity with this set of four modern units, each meticulously designed to attract discerning tenants and maximise rental returns.
All units are currently leased with reliable tenants, ensuring immediate income and peace of mind.
Each unit comprises four generous bedrooms with built-in robes, including a main bedroom with an ensuite, a modern kitchen featuring an island bench, and a stylish three-way main bathroom with a double vanity. Internal laundry facilities enhance convenience, providing a contemporary living experience that significantly boosts the property's appeal.
One of the standout features of this property is its stable, long-term tenants, providing a reliable stream of income and contributing to the overall financial security of the investment. Currently generating a gross income of approximately $91,817.51 per annum, high returns are clearly evident.
8-10 Grills Place has a history of low vacancy rates, emphasising its appeal to tenants. The well-maintained dwelling reflects the commitment of the current owners, who are engaged and invested in the property's success.
The property is characterised by its low-maintenance Tilt slab concrete panel construction with an iron roof and established gardens that require minimal upkeep. Ducted gas heating and electric cooking facilities in each unit, along with double individual carports, ensure tenant convenience and satisfaction.
Ideally situated within walking distance to the University of New England, this property offers unparalleled convenience for tenants seeking easy access to campus life. Whether for students or staff, the proximity to the university enhances the appeal of these modern units, making them an attractive option for those who value both comfort and accessibility.
Investors will appreciate the minimal operational costs associated with this property, maximising profitability and overall return on investment. Whether you are looking to expand your portfolio or enter the investment market, this opportunity offers both immediate rental income and potential for capital growth.
Contact Cayne Moar to book your inspection today on 0431 435 958
*All information contained here is gathered from sources we believe to be reliable, however, we cannot guarantee its accuracy and interested persons should rely on their own enquiries*

Property Details for 8-10 Grills Pl, Armidale

8-10 Grills Pl, Armidale is a 16 bedroom, 8 bathroom BlockOfUnits with 8 parking spaces. The property has a land size of 2111m2. The place is currently for sale with Ray White Rural Guyra/ Armidale.

Building Type
BlockOfUnits
Land Size
2111m2

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About Armidale 2350

The size of Armidale is approximately 268.8 square kilometres. It has 41 parks covering nearly 2.3% of total area. The population of Armidale in 2011 was 22,467 people. By 2016 the population was 23,355 showing a population growth of 4.0% in the area during that time. The predominant age group in Armidale is 20-29 years. Households in Armidale are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Armidale work in a professional occupation. In 2011, 59.9% of the homes in Armidale were owner-occupied compared with 57.7% in 2016.

Armidale has 13,623 properties. Over the last 5 years, Houses in Armidale have seen a 52.43% increase in median value, while Units have seen a 49.83% increase. As at 30 November 2024:

  • The median value for Houses in Armidale is $465,171 while the median value for Units is $301,175.
  • Houses have a median rent of $450 while Units have a median rent of $330.
There are currently 93 properties listed for sale, and 16 properties listed for rent in Armidale on OnTheHouse. According to CoreLogic's data, 593 properties were sold in the past 12 months in Armidale.

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Cayne Moar
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Ray White Rural Guyra/ Armidale
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