Investor opportunity for 'set and forget' accommodation in popular snowy gateway
If it’s beginning to look a lot like Christmas, then this might be one of the last investor opportunities in 2024 to put a bow around something special.
And it doesn’t get much more compelling than a 13-unit complex at 8 Yulin Street in Cooma that’s mainly leased to the biggest contractor behind Snowy Hydro 2.0.
The complex was completed about two years ago and features one, two and three-bedroom dwellings with carports.
Daniel McGrath of Ray White Commercial Canberra says the opportunity presents as a classic “set and forget” asset.
“The Snowy Monaro region has enjoyed low vacancy rates in recent years and accommodation is always in demand,” he says.
“This is a secure opportunity for investors seeking consistent returns with potential rental growth in a popular gateway to our winter playgrounds – and year-round recreation options.”
Twelve of the 13 units are leased to Future Generation Joint Venture until 15 December 2026. The remaining unit is offered on the short-term accommodation market and enjoys high occupancy rates.
The estimated net income for the complex is just over $300,000 per annum.
McGrath says the investment also offers significant depreciation benefits.
“It’s a timely opportunity to invest in a buoyant sector of the market,” he says.
The property, which comes with a price guide circa $5 million, is offered under one title and will be sold in one-line under a single contract.
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