With interest rates going lower and more people moving to regional areas like Newcastle this property represents a very good addition to your annual income statement.
Mayfield East is a small, tightly-held suburb next to Tighes Hill which has experienced phenomenal growth in the last few years because of it’s proximity to Newcastle City, shops, schools and parks.
This trendy area is going through a transformation which includes a massive new Coles shopping centre development which has finally been approved by Newcastle City Council and will bring new shops and provide employment for an extra 100 people in the suburb.
Brand new electrical wiring, switches etc
The property has recently been completely renovated, including brand new electrical wiring and switchboard with safety switches.
The two properties are separately metered.
There are two renovated bathrooms. The 3 bedroom house at the rear was completely renovated, including brand new bearers and joists in the flooring where needed.
The front 1 bedroom unit bathroom has been re-tiled and has a new vanity and toilet.
New kitchen in the 3 bedder
The old kitchen and flooring were removed and repaired including bearers and flooring and a brand new kitchen installed.
Brand new hot water systems
The rear hotwater and stove run on gas with a brand new gas hot water system installed during the renovation.
The front unit is 100% electric and a brand new hot water heater was installed during the renovation.
Brand new air-conditioning systems
Brand new split system air conditioning systems have been installed in each dwelling with remote control.
Super fast NBN broadband
Fibre to the building NBN connection gives residents one of the fastest Internet experiences possible.
Cosy, Inner city entertaining area
The large renovation included a complete remodelling of the rear of the property to provide a large parking area as well as a private inner city sanctuary for the tenants or new residents.
High Density Zoning
This property is zoned R4 which is residential high density and the two separate dwellings provide a great return but also a wider range of opportunities to increase value in the future.
This property is currently being prepared for sale so we are taking expressions of interest from property investors and their advisers.