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Sold on 14 Mar 2024 - Price Unavailable

10/34 Belgravia Street
Belmont WA 6104

Bedrooms: 10
Bathrooms: 10
Car spaces: 14
Floor area: 1197m2
Land area: 1466m2
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Property Details for 10/34 Belgravia St, Belmont

10/34 Belgravia St, Belmont is a 10 bedroom, 10 bathroom BlockOfUnits with 14 parking spaces. The property has a land size of 1466m2 and floor size of 1197m2. While the property is not currently for sale or for rent, it was last sold in March 2024. There are other 10 bedroom BlockOfUnits sold in Belmont in the last 12 months.

Building Type
BlockOfUnits
Floor Size
1197m2
Land Size
1466m2
Local Government
Belmont
Lot/Plan
10/S067110

Last Listing description (March 2024)

FULLY LEASED INVESTMENT:
• Fully leased investment of entire strata complex of 10 modern residential apartments/townhouses in the thriving City of Belmont, located in close proximity to the Perth CBD and the Perth Domestic and International Airports.

MODERN APARTMENT BUILDING:

• 2 x Townhouses (3 Bedroom + Study with 2 Bathrooms + Powder)
• 8 x Apartments (2 Bedroom with 2 Ensuite Bathrooms)

INCOME:
• Entire building securely leased to professional operator until April 2026
• Current Gross Income of circa $210,000 pa with annual CPI rental increases

LOCATION:
• 10 min drive to Perth CBD
• 5 min drive to Domestic Airport
• 10 min drive to International Airport
• 5 min drive to Redcliffe Railway Station
• 150m walk to Transperth Bus Stop

OTHER:
• Large Recreation Room
• Large Gymnasium
• 14 x Car Bays
• 10 x Individual Secure Storage Rooms

OPPORTUNITY:
There are substantial investment upside opportunities for this property.
• Easy to manage investment - fully leased.
• Annual CPI rental increses (next due in April this year)
• At the expiry of the lease in April 2026 an astute operator can take over the management of the properties and obtain the full retail rental in lieu of the current wholesale rental, which will substantially increase the investment yield.
• Alternatively, at the expiry of the lease either some or all of the individual units can be sold for the full market selling prices, and the balance can be leased for the full retail market rental.

This represents a great opportunity for an investor with a 2-3 year vision with potential for significant upside, with the majority of any new owner's holding costs being covered by the current tenant's wholesale lease.

Call Dan Ehrenfeld today on 0404 877077 for further enquires and information.

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Property History for 10/34 Belgravia St, Belmont, WA 6104

A timeline of how this property has performed in the market
Last Sold
14 Mar 2024
  • 23 Feb 2024
    Listed for Sale Offers above $4,000,000
  • 22 Feb 2024
    Sold for $392,500

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About Belmont 6104

The size of Belmont is approximately 4.4 square kilometres. It has 10 parks covering nearly 4.4% of total area. The population of Belmont in 2011 was 6,264 people. By 2016 the population was 6,784 showing a population growth of 8.3% in the area during that time. The predominant age group in Belmont is 20-29 years. Households in Belmont are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Belmont work in a trades occupation. In 2011, 54.4% of the homes in Belmont were owner-occupied compared with 54.4% in 2016.

Belmont has 4,430 properties.

    There are currently 18 properties listed for sale, and 16 properties listed for rent in Belmont on OnTheHouse. According to CoreLogic's data, 267 properties were sold in the past 12 months in Belmont.

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    Daniel Ehrenfeld
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