152 Toolara Rd, Tin Can Bay
A strong yielding unit block with cafe.
According to the advert the 4 units generate approximately $37,440 per annum, the unit above the cafe generates $14,610, the cafe generates $22,219 and solar panel generates $504 per annum, totalling $74,790.
The outgoings are approximately $22,749.
This would make a gross rental yield above 7.2%.
Sold for $705,000 by Thomas Garland of Ray White.
It’s hard to go past the yield on this property and the potential to develop a few more units in the future by resubmitting a DA.