7/100 Farrar BoulevardFarrar NT 0830
Property Details for 7/100 Farrar Bvd, Farrar
7/100 Farrar Bvd, Farrar is a 2 bedroom, 1 bathroom Unit with 2 parking spaces and was built in 2015. The property has a land size of 191m2 and floor size of 68m2. While the property is not currently for sale or for rent, it was last sold in April 2021.
Last Listing description (August 2021)
This well located property is only minutes from the Palmerston CBD and has a long term Government lease in place with great returns. This would suit an investor looking for guaranteed returns and a long lease with regular income. The low maintenance complex keeps the body corp cost low meaning you can keep more of the rental income for yourself.
Features include:
* $520 per week rent, minimum locked in until 2025, rent can't go down.
* Management fee includes maintenance so there is no unexpected bills
* Low body corporate fees to maximise your net return
* Long term lease so no gaps in income for almost 5 years
* Would suit investors looking for solid returns and low risk
A small courtyard with garden shed is included with this unit giving occupants some extra room outdoors in the fresh air. Parking is undercover and at the front door of the property for added convenience.
Area under title: 191 m
Easements: Nil on title
Council rates: $1,770 per year (approx)
Body Corp Manager: North Management
Body Corp outgoings: $521.90 (approx) per quarter.
Leased until: 28/4/2025
Lease amount: $520 per week
Property History for 7/100 Farrar Bvd, Farrar, NT 0830
- 07 Apr 2021Sold for $280,000
- 06 Oct 2020Listed for Sale $299,000
- 03 May 2018Listed for Rent $294 / week
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About 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 680 properties. Over the last 5 years, Houses in Farrar have seen a 31.49% increase in median value, while Units have seen a 32.13% increase. As at 30 September 2024:
- The median value for Houses in Farrar is $601,430 while the median value for Units is $369,078.
- Houses have a median rent of $675 while Units have a median rent of $580.
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