1&2/23 Thomas Street, Wallsend NSW 2287

This rare offering features two well-appointed units as a single level house returning a dual income in a central location, making it an ideal choice for investors seeking strong rental returns with future potential to sub-divide the block & build a residence at the rear or knock down the home & develop this huge level block into 5 villas like next door. Situated in a prime location, this is one of the last remaining big parcels of land in Wallsend.

Unit 1
- Two spacious bedrooms that come with large built-in wardrobes and ceiling fans, providing plenty of storage and comfort.
- Enjoy a seamless flow in the open plan living and dining area that opens off the kitchen.
- The kitchen is equipped with electric cooking, offering functionality and ease.
- A well-maintained bathroom and internal laundry cater to your daily needs.
- Convenient off-street parking available for added security and peace of mind.
- Currently returning $450 Per Week & Lease expires 26/06/25.

Unit 2
- Featuring two large bedrooms both fitted with built-in wardrobes, ensuring ample storage space for your personal belongings.
- The generous oversized living area is air-conditioned, providing year-round comfort for you and your guests.
- The updated bathroom is bright and airy, filled with natural light.
- The kitchen boasts ample cupboard space and modern amenities, perfect for everyday cooking.
- The internal laundry offers direct access to the backyard, adding to the unit's convenience.
- A single carport is available, with plenty of on-street parking for additional vehicles.
- Enjoy your morning coffee or relax in the private rear sitting area, overlooking the shared backyard space.
- Currently returning $410 Per Week on an expired lease on a week-to-week basis with great tenants that would love to stay.

The big spacious backyard also includes two separate garages currently used by the owner as extra storage or utilise for tenant use to increase the weekly rental return.
Land Size Approx. 1052m2 - (20.7m Frontage & 50.2m Depth)
Land Rates Approx. $523 Per Quarter
Water Rates Approx. $305 Per Quarter
Currently returning a combined amount of $860 per week. With potential for a rental increase in the future for a higher yield.

Situated in the central neighbourhood of Wallsend, as you'll have easy access to Wallsend Village; supplying supermarkets, local gym and medical centres. The Newcastle Inner City Bypass makes commuting a breeze whilst being just a short distance to John Hunter Hospital, The University of Newcastle and only a 20-minute drive to Newcastle CBD and its beautiful beaches.

Don't miss out on this incredible opportunity! Whether you're an investor looking for a solid return or a family needing flexible living arrangements or a developer looking for a great site & project, this property ticks all the boxes. Contact us today to arrange a viewing and secure your future.

For further information contact the local area's first choice for real estate Troy Duncan on 4950 8555

First National Real Estate Lake Macquarie are your local experts for the Lake Macquarie and Newcastle area, we proudly market this home and are always looking for more homes to sell. If you would like honest, expert advice to achieve excellent results, call us on 4950 8555 to discuss your home.

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