47 Charles Street

Stuart Park NT 0820

The owners are more than ready to move on into retirement.
There are 6 separate residences here that derive a weekly income of $1930. There is also 3 separate driveways into the property and all the units and the house are to code.
The 4 units to the rear are 2 up 2 down, 2 bedroom 1 bathroom units and are returning $1150 pw . Individually $275,$275,$300,and $300
The old house to the front has been tenanted for the past 6 years to the same tenants at $450 and the new one bedroom unit at the front is returning $330
An income of $1930 a week represents a very attractive return for a new owner and this is the ideal property to buy and hold. It is a Buyer s market out there currently but the income generated by these units makes this property more than an attractive investment.
There is no denying the units are somewhat tired and jaded but would come up a treat with a little TLC but the investment is still there no matter which way you look at it.
Renovate and you would increase the rent and subsequently the yield and then you could also incorporate Depreciation into the equation. The alternative is to buy, hold and await a rise in the market. Either proposition makes good economic sense.
Stuart Park is minutes from the CBD, Parap and Fannie Bay and this property is at the bottom end of Charles Street and is quiet and relatively tranquil. The photos don't show its true potential so give me a call and we can have a chat.