SALE BY FIXED DATE: Offers by Wednesday 14th November at 6pm.
Rarely is an investment with boundless long term prospects and generous immediate return offered for sale. Here, we have an entire apartment building in a favourable location available. It has eight apartments on two levels, that are all separately metered, comprising; double bedrooms with built-in robes and ensuite-style full bathrooms. The kitchens have upright cookers and the open living areas has reverse cycle heating and air conditioning. There is also a laundry on each level of the building for resident's washing machines; with a clotheslines at the rear.
This substantial building radiates character and would benefit from exterior and some internal painting, but is otherwise well maintained.
It is presented as vacant possession or part tenanted. With a little TLC, fully let it will return $90,000 per annum (approx). Cosmetic enhancement will increase your yield. The potential also currently exists to redevelop the 739m2 (approx) site to three levels; with parking underneath, or possibly build a basement car park with storage (STCA). These apartments will be in high demand from prospective tenants due to their fabulous location; that sees Coles and an array of speciality stores within walking distance, not to mention a bus stop directly in front and the train station just 2kms away. The Springvale Homemaker Centre and Monash University are also just up the highway.
Photo ID required at all open for inspections.
