Calling all experienced investors and traders - unique opportunity to profit.

Here is an incredible opportunity to pick up 5 unit titled 1-bed apartments, roll your sleeves up to add massive value, then either hold for long term cashflow and equity, or flip for short term profit. Make no mistake, this is not for the feint hearted, there is significant work to be done... that is why the price is where it is, so therein lies the opportunity. The fundamentals are there, inc excellent location, sound construction, strong EQC resilience, majority control of the Body Corp, and massive upside for capital gain and cashflow.

So what's the catch? First, the interiors are in poor condition and you should assume a full refurb is required. Secondly, there was a slip at the rear in early 2023, and this needs to remedied with EQC in order to extract full value from these apartments. Once the refurb is done, they will be ideal for quality tenants, and once the slip is resolved, they will be perfect for first home buyers.

- 5 x 1-bed unit titled apartments, floor area 50sqm each
- The interiors are in poor condition, hence no photos, pls assume a full refurb
- Single garage
- Total rents currently $1,595pw (inc garage at $50pw)
- Market rents $420-450pw each after refurb
- Currently not Healthy Homes compliant
- This is 5 units from a total of 9 in the building, plus garage, giving over 50% majority voting rights
- Plenty of parking on site
- 69% NBS (WCC IEP)
- BC levy $250 monthly each
- RV $2,100,000 (total)
- Rates $2,456.80pa each flat

My out of town vendor bought these flats in 1981... he is now retired, they are surplus to requirement, and his instructions are clear - GET THEM SOLD. He knows they are cheap, he knows the timing is not the best, but that hasn't dampened his enthusiasm to meet the market and pass them to someone who has the energy and the bandwidth to capitalise on this opportunity.