LISTING PHOTOS Click photo to enlarge Duplex with granny flat and main house in the background. Lounge area in the main house, showing polished timber floors. Kitchen (main house) Rear verandah of home Property plan (not to scale)

Property ID: 1927 Super Investment - East Ballina, NSW ($1.2 M +) Ballina, New South Wales Advertiser type: Private Sale - EAST BALLINA INVESTMENT - - TOTAL ANNUAL RENTAL RETURN OVER $52, 000 - - Front and rear access. - Walk to beaches - Only 500 metres to Ballina golf course. - One title - low rates! Property consists of: - 3 bedroom house - 2 x 2 bedroom duplexes - 1 bedroom unit Three bedroom house - newly renovated interior. Weatherboard construction with separate dining and living area. Lock-up garage. Laundry below. New tiles in bathroom. New vinyl in kitchen. Beautifully restored timber floors. Improved gardens. Rental return $350 / week. Granny flat behind: Weatherboard construction. Rental return $180 / week. 2 x 2 bedroom brick and tile units: Both bedrooms have built-ins. Rental return $250 each / week. Recent Work / Improvements on property and the added value of the work: 1. New colourbond roof (replaced iron roof) $7,500 2. New copper pipes throughout(replaced galvanised iron) $1,400 3. External painting (all dwellings) $4,600 4. Internal painting $3,000 5. New flyscreens on all windows and doors (main house 1/64 and flat 4/64) $960 6. Locks (deadlocks changed on main house 1/64 and flat 4/64) $240 7. Replacement kitchen in flat 4/64 $1,270 8. One new vanity unit in flat 4/64 $240 9. New kitchen 2/64 and 3/64 (units) $6,000 10. New carpets 2/64 and 3/64 (units) $3,500 11. New vinyl kitchen / dining area 2/64 and 3/64 $1,200 12. One new Rheem 250 litre hot water system in main house (1/64) $850 13. One new Rheem 50 litre hot water system at 2/64 and 3/64 (units) $1,000 14. Landscaping the whole of the property - including retaining walls, shrubs, trees etc. $7,700 15. Replace all existing gutter guard with latest fibreglass type $2,700 16. Bitupave outside front driveway entrance $2,500 17. At 1/64 (main house) all floors (in hallway, lounge, dining room and bedrooms) exposed to original boards (ten different seasoned hardwoods) sanded and polished $3,600 18. New vinyl kitchen in 1/64 (main house) $950 19. New tiles in bathroom 1/64 (main house) $1,000 20. New curtains and blinds throughout all dwellings $1,200 21. New colourbond fence on southern boundary $3,800 TOTAL in recent improvements $55,210 Weekly (permanent Rental Returns) of over $1,000 per week: - 3 br house (weatherboard - colourbond roof)at 1/64 Pine Ave $460 - 2 br unit (duplex brick and tile) at 2/64 Pine Ave $220 - 2 br unit (duplex brick and tile) at 3/64 Pine Ave $220 - 1 br unit (weatherboard) at 4/64 Pine Ave $150 Whilst there may just be a better investment in this area, I certainly don't know of any!! The rental return (gross) is presently $54,600, ie. 6.34% per annum, which corresponds to $50,660, or just over 6.00% net, after paying for yearly rates including water of approximately $2,900. NB. For the past eighteen months the house (1/64 Pine Ave.) has been rented out on a multiple letting basis, thus increasing the income return/s greatly. Now, because of the extra workload involved, I have decided to revert to a single letting. Whislt this will mean the weekly rental for the house will revert to $310 p.q. it does illustrate what can be done. Meanwhile, even at the reduced rental income, gross rental returns would exceed 5.35% p.a. and net rental returns, after deducting Council rate charges, would be slightly over 5% p.a. Notes: 1. Because this property was built before Sept. 20th 1985 the sale would not be subject to capital gains tax 2. the site is designated high density AN OFFER: In the event of one of our properties being sold I, the undersigned, will agree, if the purchaser so wishes, to allow a further six months, after exchange of contracts, to fully settle. During that six month period I will continue to provide (free) management and maintenance and will pay the purchaser 7% interest p.a. on any monies deposited (at exchange of contracts). It should be noted that this offer would, in addition, secure the property against any sale price increases over the six months period. B110159 Type:  4 dwellings Near School:  Rooms:  Near Transport:  Bedrooms:  3     Bathrooms:  Ocean View:  Levels:  Lake View:  Square Metres:  Mountain View:  Land Size:  Ocean Waterfront:  Age of Home:  Lake Waterfront:  Fireplaces:  River Waterfront:  Send email to:  Ted or Pam   Phone: Phone 2: Fax: Mobile Phone: Mobile Phone 2: