11/337 Armidale Rd

INVESTORS! Fully Refurbished Kitchen, Bathroom & Ensuite! With a fixed term lease of $23,486 pa rent pa with an increase in September this neat as a pin lot will suit any investor seeking an entry addition to their portfolio. Under long term lease, with no management or letting fees, no vacancy periods, and no Owners Corporation admin levies or building insurance, the monthly rent is paid direct with no costly deductions. Lease Details: Rent as of Sept 25: $451 per week - $23,486 pa Current Return: 6.80% Gross - 5.92%- Net Scheduled Rent Increases As Follows: Sept 2026 + 4% = $24,425 pa - 7.08% gross Sept 2027 - Market Review Lease Terms: Lease to 30/09/ 2027 with 6 x 5 yr options Rent Reviews and Increases: 4% yearly- with market rent reviews every 5 years (next due September 2027) PLEASE NOTE THE APARTMENT IS CURRENTLY UNDER LONG TERM LEASE-CANNOT BE OWNER OCCUPIED. Recently undergone full refurbishments of both bathroom and ensuite in 2019 AND JUST COMPLETED BRAND NEW KITCHEN, this spacious two bedroom apartment, situated on ground level, consists of open plan dining and lounge, fully equipped kitchen. two spacious bedrooms with ensuite to master bedroom. Timber floating flooring to kitchen has also been updated and with outdoor entertainers terrace and a total floor area of 97m2 including car park on title, its a neat investment in a booming regional location. With communal swimming pool and brilliant occupancy including both leisure and corporate, its a fantastic neat, refurbished lot with scheduled increases. 2 BEDS, 2 BATHS, BALCONY & CAR PARK 4% RENTAL INCREASES UNTIL 2027. Tamworth Regional Council is one of the largest municipals in inland NSW, with a population of over 58,000 and a prosperous economy based on building, retail, industry, hospitality and agriculture. Tamworth is best known as Australias Country Music Capital, hosting the award-winning annual Music Festival which sees the regions population double and is the largest music festival in the southern hemisphere and one of the top 10 in the world. Tamworth boasts a busy year round calendar of events and festivals, locally grown food and wine, country experiences, outdoor recreation and vibrant heritage, museums and arts. A solid investment apartment in a region that attracts residents, investors, workers and visitors alike. Approximate Owner Outgoings: Council Rates : $1620 per annum (includes Water) Water Rates: Included in Council Owners corporation Maintenance levy: $1650.00 Owners corporation Administration fee: Paid by tenant Please note these outgoings are subject to change by the relevant authorities. Disclaimer. This information is provided for general purposes only and does not constitute legal, financial, or investment advice. Prospective purchasers should seek independent professional advice to determine suitability. All information has been supplied by vendors or third parties. Outgoings are provided as at the date of sale but may change without notice or the agents knowledge. No warranty is given as to the accuracy or completeness of the information, and no liability is accepted. Interested parties must conduct their own due diligence and rely on their own enquiries.