32 George StreetMurwillumbah NSW 2484
Property Details for 32 George St, Murwillumbah
32 George St, Murwillumbah is a 8 bedroom, 4 bathroom BlockOfUnits with 4 parking spaces. The property has a land size of 613m2. While the property is not currently for sale or for rent, it was last sold in August 2024. There are other 8 bedroom BlockOfUnits sold in Murwillumbah in the last 12 months.
Last Listing description (August 2024)
This property is a two level, brick and tile roof, walk up unit complex of 4 units, which are fully occupied and have a long history of low vacancy rates. They would make a great investment for your Self-Managed Super Fund.
Each unit is fully self-contained, and upon entry you a greeted with a large, combined living/dining and kitchen.
The two bedrooms are each large enough for a double bed and have built-in wardrobes.
Front and rear entrances are provided to each unit.
Individual carports are provided at the rear of the property.
The complex is located on a flat parcel of land and the 2 southern units look out over open paddocks which are unlikely to ever be built upon. There is a new timber paling fence to the Eastern side boundary and there is a vacant allotment to the West, so the units are nice and quiet.
The units are conveniently located being just a 60 m walk to Murwillumbah East Primary School and only 1.1 km to the vibrant Murwillumbah CBD.
Now for the all-important financials:
INCOME:-
All units are currently let on a periodic basis, with a current rental of $300/wk.
There is significant upside in rentals, "as is", with market rental estimated to be in the vicinity of $370 - $380/wk.
With further additional internal upgrades, there is scope for even higher rental returns.
OUTGOINGS:-
Water Rates - $1,600
Council Rates - $4,058
Insurance - $7,442
With the potential easing in official interest rates over the next 12 months, this is great time to lock into a high yielding, low maintenance, residential investment opportunity.
* Please note that water did not enter the ground floor units in the February 2022 flood event.
For further information call Greg now on 0437 960 685
Disclaimer: The information contained here-in has been provided to us by the Vendor. This Agent does not represent the property as to its accuracy and recommends that any purchaser make their own investigations and enquiries. All images are indicative of the property only.
Property History for 32 George St, Murwillumbah, NSW 2484
- 07 Aug 2024Sold for $1,100,000
- 17 Apr 2024Listed for Sale $1,100,000
- 27 Jan 2024Sold
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0About Murwillumbah 2484
The size of Murwillumbah is approximately 12 square kilometres. It has 21 parks covering nearly 10.4% of total area. The population of Murwillumbah in 2011 was 6,342 people. By 2016 the population was 7,034 showing a population growth of 10.9% in the area during that time. The predominant age group in Murwillumbah is 50-59 years. Households in Murwillumbah are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Murwillumbah work in a professional occupation. In 2011, 65.1% of the homes in Murwillumbah were owner-occupied compared with 65.5% in 2016.
Murwillumbah has 4,125 properties. Over the last 5 years, Houses in Murwillumbah have seen a 68.99% increase in median value, while Units have seen a 121.04% increase. As at 31 October 2024:
- The median value for Houses in Murwillumbah is $796,471 while the median value for Units is $370,540.
- Houses have a median rent of $695 while Units have a median rent of $420.
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