MIDTOWN COTTAGE, A REAL MONEY MAKER

LOCATED IN THE CBD, THIS LITTLE GEM OFFERS HUGE RETURNS FOR THE ASTUTE INVESTOR...

Offering an initial gross yield well over 8% annually, and the ability to take on more short term letting for the cottage.

Here is a 2 bedroom cottage on approximately 425sm block built in the late 1800's.

This cleverly put together property capitalizes on every square meter and does so with style, the cottage is currently leased on a short term basis, while its rear yard has been transformed into much needed parking and provides a second stream of income leasing 9 parking spaces annually to a near by business (have done so for 5 years) making this property a high yielding opportunity for investors.

The cottage comprises a modern kitchen, cozy living area, 2 bedrooms which are of good size, and a modern bathroom all off a central hallway that leads out to it's private courtyard and parking located at the rear of the property. Heating and cooling is done by 2 split system air conditioners and is offered fully furnished at the advertised price meaning you can carry on the short term letting business with no interruption. The property presents immaculately and is a testament to the owners who have maintained it with great care and pride.

Continue running the rentals as they are, with genuine opportunity to increase the occupancy of the cottage. Or, move into the property while retaining a tidy income from the parking. , this opportunity has strong upside and is a must see.

For further information please contact Luke Oakley with Bret Ward Real Estate on  0432 093 153 |  Inspections are welcome by appointment with agent.

Features

Verandah Self-contained accommodation Level Block Close to school Pay TV Ready Courtyard Low maintenance
2 1 11
Suburb Bairnsdale
Address 161 Nicholson St
State VIC
Price $370,000
Property Type residential
Property ID 994
Category House
Land Area 424 m2

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Luke Oakley

0432093153
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