This block of four units was purchased in one line with great returns. There were multiple attractions with this property. 1) Great returns with a 6.5% gross rent return on purchase. 2) Brilliant location. Despite being on a semi-busy road, its proximity to train, major arterial road and airport means it will never be short on tenants and should achieve good growth. 3) Fantastic condition. It may be a 1970's build, but it was clearly loved and well maintained. In fact, the building inspector said "this is by far and away the best conditioned unit block for its age I have ever inspected". Not a bad thing to hear! 4) Depreciation. It might be old but it has had some semi-recent works carried out to it so there was some depreciation still left in the product. And finally 5) potential to strata-title to add value. This was an excellent addition to my client's portfolio and will just sit there quietly humming along for many years to come.