Investor form guide wrap: Gross rental yield of 5.4% in Kingsford

2/48 Willis Street, Kingsford, NSW, 2032

The tenant of this two-bedroom unit is paying $520 per week and is on a lease until November this year. It sold under the hammer on Thursday, April 26 for $500,000, securing its investor buyer an indicative gross rental yield of 5.4%, substantially above the median indicative gross rental yield of 4.6% for Kingsford units, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. 

The property is close to shops, restaurants, cafes, public transport, the University of NSW and beaches, and both bedrooms have built-in wardrobes.

LJ Hooker agent Anthony Rizzo gave pre-auction price hopes in the "early $500,000s". 

Washington Brown estimates the first-year tax depreciation deduction to be $5,500 and over five years to be $16,500.

The median unit price in Kingsford rose by 3.5% in the past year, according to RP Data.

For more about prices and yields in Kingsford, see the RP Data suburb page.