Friday form guide: No investment yields, as Maroubra property sells to owner-occupier

Friday form guide: No investment yields, as Maroubra property sells to owner-occupier
Cassidy KnowltonDecember 8, 2020

6/383 Maroubra Road, Maroubra, NSW 2035

Currently tenanted at $500 a week to a tenant on an expired lease, this Maroubra unit was set for auction this weekend but sold on Thursday for $500,000 to an owner-occupier. The two-bedroom unit in the Aurora building is within easy walking distance of Maroubra Beach and has expansive water views.

Richardson & Wrench selling agent Lloyd Allen gave pre-sale price hopes of $450,000 plus. If the buyer decides to rent it out, at its current rent it would secure a gross rental yield of 5.2%, above the indicative gross rental yield for Maroubra 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.

Washington Brown estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $9,000.

The median house price in Maroubra rose 1.4% in the past year and 27.8% in the past five years, according to RP Data.

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

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