Rare opportunity! Storage facility with 20.5% gross earning capability and room to expand.
Fantastic investment opportunity has just become available with double opportunities for both solid income and incredible capital growth being offered as a going concern. Self storage facilities are in high demand with investors due to strong demand for storage units - Note that these are the only storage sheds or shipping container storage facilities in the Yarraman or Blackbutt areas with the opportunity to create a family or rental home in a quiet location with parks and BVRT nearby walking distance to town.
1 - Self Storage facility almost full with room to expand further to meet demand on ~1111m2 block. Based on recent price increases will return 13.95% gross with minimal outgoings or work as managed by local real estate agent. Very little work or outgoings. Priced at $149,500k
2 - ~1000m2 vacant block ready to install a relocatable house off the ground to create a rental property which are in very high demand to earn ~$15,600/y. As one possible option see link to select a house - http://davidwright.com.au/?action=epl_search&post_type=property&property_price=50001-100000&property_bedrooms=3 - also many other options available from different providers.
Block has large concrete water tank and septic. Priced at $50k plus invest ~$100k house will create a home worth circa $250k.
Asking price for both assets is $199,500
Storage facility latest rental prices (existing tenants rates not yet all increased):-
Earning capacity - 7 units at $39/week + 8 units at $34/week + 2 units at $22/week = $598/w = ~$30,628/y incl gst gross
Room to add 7 more containers to take storage facility earning capacity up to $44,824 incl gst gross
Total earning capacity for enlarged storage facility and rental property is circa $60,000/y incl gst gross
Selling on WIWO As Is basis with everything needed to carry out the basic maintenance and lawnmowing tasks including a small stocked caretakers workshop. House relocations STCA per normal requirements and prospective purchasers should make their own enquiries.
