18-20 Albert Road

Meningie SA 5264

18-20 Albert Road, Meningie is a well presented, brick veneer maisonette property, consisting of two attractive units. Both are currently tenanted to long term tenants, who are both very neat and tidy, making this an ideal investment for the astute investor.\nSet back from the road, this is an attractive property of quality construction. Built in the colonial style in the 1980 s, the units sit on a 1,214m2 allotment, within close walking distance to shops and services. \n18 Albert Road - $149,500\n Two bedroom/one bath\n Open plan living/dining\n Laundry and adjacent kitchen\n Air conditioning\n Secure undercover parking for two vehicles, plus off- \n street parking for two vehicles\n Fenced rear yard with pergola\n Current rent: $185 per week\n 8% gross rental yield\n\n20 Albert Road - $149,500\n Large corner allotment with dual frontage\n Two bedroom/one bath\n Open plan living/dining\n Laundry and adjacent kitchen\n Air conditioning\n Undercover parking for two vehicles, plus off-street \n parking for four vehicles\n Large 2 bay shed, accessible from side street\n Fenced rear yard with pergola\n Same tenant since 2008\n Current rent: $160 per week\n 5% gross rental yield\nThe interior fittings of both units, including the floor and window furnishings, although not updated, are clean and functional, and have been very well maintained.\nOutside, both units have well maintained, low maintenance front gardens. The rear yards are fully fenced and secure, and low maintenance. \nThis is a rare opportunity for investors in Meningie as properties of this nature and quality are in high demand by tenants. \nThe current rental yield is well below market value due to the long term and stable nature of the current tenants. Current market rent for each unit is $200-210 per week, which will increase the gross rental yield to 6.7%.\n18-20 Albert Road is also suited to an early stage retiree who may choose to live in one unit and generate an income from the second unit. Gross income on the second unit would cover all property outgoings (council rates, water supply, insurance and emergency services levy) and utilities (power, water use and internet).\n