5/89 Farrar BoulevardFarrar NT 0830
Property Details for 5/89 Farrar Bvd, Farrar
5/89 Farrar Bvd, Farrar is a 2 bedroom, 1 bathroom Unit with 2 parking spaces and was built in 2014. The property has a land size of 160m2 and floor size of 68m2. While the property is not currently for sale or for rent, it was last sold in March 2015.
Last Listing description (July 2024)
Set and Forget Investment Opportunity. This property is leased to the NT Government until May 2025 with the option to renew for a further 5 years likely to be exercised given the severe shortage of government housing in the market relative to demand. Leased at a guaranteed minimum $520.00 per week.
All routine maintenance is covered by the government under the lease which makes for a hassle free investment.
Two-bedroom low maintenance ground level unit with parks, shops and services all close by.
This single level unit features an open-plan living area, a tidy kitchen, and a bathroom with integrated laundry, complemented by covered entertaining and an easy-care yard.
Effortless ground level unit set within neat complex
Well-presented interior is fully tiled and accented by neutral tones
Open-plan living space opens out to covered verandah and yard
Kitchen features modern appliances, pantry and ample bench space
Master offers built-in robe, second bedroom, also with built-in robe
Large bathroom with framed glass shower and integrated laundry
Healthy depreciation benefits for investors being only 8 years old
High yielding set and forget investment
Accentuated by neutral dcor and fully tiled throughout, this attractive unit delivers neatly presented, low maintenance living to buyers seeking their first property, those looking to invest, and those wanting to downsize.
Moments from parks and public transport, the unit is within easy reach of Palmerston Regional Hospital and Sanctuary Lakes Park, and is just four minutes by car from Palmerston CBD.
Viewing by qualified private inspection.
Council Rates: $1,853 per annum (approx.)
Area Under Title: 160 square metres
Zoning: LMR (Low-Medium Density Residential)
Status: Leased until May 2025 with NT Government (5 year option to renew lies with tenant)
Rent Amount: $520 per week
Body Corporate: North Management
Body Corporate Levies: $1,342 per quarter (approx.)
Property History for 5/89 Farrar Bvd, Farrar, NT 0830
- 25 Mar 2024Listed for Sale $320,000
- 04 Sep 2023Listed for Sale Offers over $330,000
- 11 Apr 2018Listed for Rent - Price not available
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0About Farrar 0830
The size of Farrar is approximately 1.5 square kilometres. It has 4 parks covering nearly 7.2% of total area. The population of Farrar in 2011 was 1,409 people. By 2016 the population was 1,500 showing a population growth of 6.5% in the area during that time. The predominant age group in Farrar is 30-39 years. Households in Farrar are primarily couples with children and are likely to be repaying $2400 - $2999 per month on mortgage repayments. In general, people in Farrar work in a trades occupation. In 2011, 56.5% of the homes in Farrar were owner-occupied compared with 52% in 2016.
Farrar has 682 properties. Over the last 5 years, Houses in Farrar have seen a 26.81% increase in median value, while Units have seen a 31.74% increase. As at 31 August 2024:
- The median value for Houses in Farrar is $601,516 while the median value for Units is $371,861.
- Houses have a median rent of $670 while Units have a median rent of $560.
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