460 Chapman Road, Bluff Point, WA 6530

460 Chapman Road, Bluff Point, WA 6530
6 Unit complex in sought after Geraldton.

Geraldton has been in the spotlight for the last few years and there is a continual shortage of housing as the area grows. Finding a Unit complex to buy is not easy, especially in a sought after area such as this in Bluff Point. The details are as follows;

• 6 Units in total, all owned individually and will only be sold as one complex.

• 4 are 3 bedroom, 2 bathroom, double garage.

• 2 are 2 bedroom, 1 bathroom, double garage.

• Built in 2005.

• 1994 m2.

• Brick and Colorbond.

• Current gross income is approximately $125,000

• Land rates approx $2,445 for 2 bedroom units & $2650 for 3 bedroom units per unit per annum

• Water rates approx $1,600 per unit per annum

• Currently under strata management however, as this will be sold to one person, there will no longer be a need for this.

There are some major drainage issues that have led to some structural damage in this complex and a comprehensive report has been prepared that outlines the required works to bring these back into good repair. We are seeking a buyer who has the will and capability to undertake such a project. The current market value if these Units were in good condition would be 2.2 million plus. The opportunity exists to fix the underlying issues, make good the repairs and end up with 6 large Units in a good location under one owner. They could be sold off again as individual units at a later date, used for staff accommodation or continue to rent them all out.

The full report is available to qualified buyers and Expressions on Interest are invited. (price guide is somewhere between 1.2 and 1.6 million.

To view, call Henry on 0429 995 121

Like an appraisal on your property then please call Team Van Tiel on 0429 995 121 and let our family help yours.

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*Please be advised that this information has been supplied to the best of the agent's knowledge; however, it is always advisable for you to complete your own research and due diligence in these matters.