Positioned on a generous 997sqm (approx.) allotment, this outstanding investment property delivers immediate strong returns, long-term growth potential, and future flexibility – all on one title.
Property Overview
At the front of the block sits a charming 3-bedroom, 1-bathroom California Bungalow complete with:
• Large front yard
• Lock-up garage
• Polished timber floors
• Split system heating & cooling
• Bathroom in good order with separate shower and bath
• Separate toilet
• Separate spacious laundry
• Kitchen featuring a walk-in pantry
• Sunroom
Privately positioned at the rear are four (4) well-appointed 2-bedroom units, two with timber facades and 2 brick veneer, each offering:
• Polished timber floorboards
• Split system heating & cooling
• Bathrooms in good order
• Separate laundries
• Modern, well-equipped kitchens
All dwellings are presented in excellent condition, ensuring minimal ongoing maintenance and strong tenant appeal. Total rental return: Approx. $2,000 per week
• Current annual income: Approx. $104,000 per annum
• Outgoings: Approx. $25,000 per annum (including gardening, water consumption & services for all dwellings)
• Estimated return: Approx. 6% ROI
Current Individual rents:
• Front house: $440 per week
• Each unit: $390 per week
With all dwellings on one title, the property benefits from simplified management and services. There is also the potential to subdivide, rebuild, or sell individually (STCA), providing future capitalisation opportunities.
Location
Situated close to vibrant Pakington Street, renowned for its popular eateries, boutique strip shopping, cafés, and everyday amenities. Also, a short distance to beautiful Corio Bay, the Geelong Ring Rd, Schools and Child Care Centres.
The location ensures continued tenant demand and long-term capital growth appeal.
Held by the current vendors for approximately 25 years, this property has delivered consistent, reliable income and long-term growth. Now it presents an exceptional opportunity for the next investor to secure a high-performing asset with strong cash flow and future development flexibility.
A rare opportunity to secure multiple income streams on a substantial allotment.
