OFF MARKET

337 Armidale Road
Tamworth NSW 2340

Bedrooms: 1
Bathrooms: 1
Car spaces: 1
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Last updated 11 Nov 2024
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Property Details for Lot 7/337 Armidale Rd, Tamworth

Lot 7/337 Armidale Rd, Tamworth is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 1998.

Building Type
Unit
Year Built
1998
Local Government
Tamworth Regional

Last Listing description (January 2018)

Large one bedroom apartment with open kitchen, meals and family room. Top floor with balcony.
Apartment has recently been repainted, re-carpeted, with kitchen upgrades and tiling.
Total floor area of 63m2 + Carpark on title.

Currently operating as a serviced apartment, under a long term secure lease with Quest, the property offers investors high returns with minimal headaches and tenant problems.
Current Rent: $261.80 per week ($13,613 per annum)
Current Return: 7.16% gross
INCREASES AS FOLLOWS:
Oct 2018- $14,157- 7.44% gross
Oct 2019- $14,723- 7.74% gross
Oct 2020- $15,312- 8.05% gross
Oct 2021- $15,925- 8.37% gross
Lease Terms: Lease 30/09/2022 plus 6 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2022)
Tamworth boasts a busy year round calendar of events and festivals, locally grown food and wine, country experiences, outdoor recreation and vibrant heritage, museums and arts.
A solid investment apartment in a region that attracts residents, investors, workers and visitors alike.

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Property History for Lot 7/337 Armidale Rd, Tamworth, NSW 2340

A timeline of how this property has performed in the market
  • 12 Dec 2017
    Listed for Sale Not Disclosed

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About Tamworth 2340

The size of Tamworth is approximately 1.2 square kilometres. It has 5 parks covering nearly 21.6% of total area. The population of Tamworth in 2011 was 239 people. By 2016 the population was 178 showing a population decline of 25.5% in the area during that time. The predominant age group in Tamworth is 20-29 years. Households in Tamworth are primarily couples with children and are likely to be repaying not stated per month on mortgage repayments. In general, people in Tamworth work in a labourer occupation. In 2011, 30% of the homes in Tamworth were owner-occupied compared with 27.4% in 2016.

Tamworth has 1,634 properties. Over the last 5 years, Houses in Tamworth have seen a 76.13% increase in median value, while Units have seen a 72.31% increase. As at 31 October 2024:

  • The median value for Houses in Tamworth is $436,290 while the median value for Units is $331,519.
  • Houses have a median rent of $435 while Units have a median rent of $420.
There are currently 84 properties listed for sale, and 15 properties listed for rent in Tamworth on OnTheHouse. According to CoreLogic's data, 17 properties were sold in the past 12 months in Tamworth.

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