Sold
House

29 Terranora Road Banora Point, NSW 2486

Sold for $660,000 on 7 Jun 2017
  • 7 Beds
  • 4 Baths
  • 4 Cars
Agents

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House in Banora Point

SOLD BY Brendan Gibb - Ray White Banora

  • 7 Beds
  • 4 Baths
  • 4 Cars

On offer is this rare non-strata multi dwelling property situated on an elevated Banora Point block capturing sweeping ocean views and a cooling breeze. Three separate tenancies provide for a boastful rental return, and with Banora Point having experienced consistent growth for the last 4 years including 9.1% last year; this is a very attractive investment opportunity. Being in mostly original condition there is potential to increase the returns through renovation/modernisation, although having been well maintained throughout its life the property is very liveable as it is.
Sure to appeal to investors and SMSF's, the opportunity also exists to live in 1 unit and lease out the other 2; making this an income producing home. Currently returning $44,200 to good long term tenants, by raising the tenancies to current market levels a return of $50,440 could potentially be realised.

Annual Figures
Current Income $44,200 gross
Potential income $50,440 gross, based on current market rental appraisals
Water Rates - $866pa approx.
Council Rates - $2,766pa
Garden maintenance - $962pa approx.
Common electricity - $1,113 approx.

Unit A (245m2) The entire top floor, a large house sized unit capturing excellent ocean views
4 bedrooms, master with ensuite and WIR
Multiple living and dining areas
Huge kitchen with ample storage
Main bathroom with separate toilet
Shared laundry with Unit B
Single car port space
Currently leased for $380pw, market rent of $430pw

Unit B (136m2) Ground floor
2 bedrooms with 1 bathroom
Generous living area
Full kitchen
Shared laundry with Unit A
Single car port space
Currently leased for $300pw, market rent of $350pw

Unit C (51m2) A small ground floor bedsit type unit
Single bedroom, single bathroom plus a small kitchenette and laundry area
Single car port space
Currently leased for $170pw, market rent of $190pw

Common areas
Low maintenance 702m2 block with basic grass area and ample parking space
Undercover guest parking space

Disclaimer: This property is being sold by public auction under vendor instructions. Due to legislation surrounding new 'Under Quoting Laws' in NSW, company policy restricts agents from providing price guides for auction properties (either verbally or in writing). A report containing recent sales surrounding this property can be provided upon request.

Parking:

4 carport spaces

Bedrooms:

7

Bathrooms:

4

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Suburb

Banora Point

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