Situated on 1910m2 (approx.) of flat, fully fenced land, is this great property that offers an investors heaven! Offering 3 separate accommodation options, each fully self contained. The hills cottage and dual studio units alongside all ooze character and have their own verandas set behind rhododendrons and camellias. Freshly painted and renovated throughout the cottage and 2 units, within walking distance to the shops and all the amenities of Mount Dandenong and Olinda villages, with this property’s outstanding location and charm offer a rare combination.
Main Cottage:
The fully renovated main cottage circa 1947, offers 2 bedroom and recently updated bathroom. With a traditional floor plan with high ceilings, a spacious open plan lounge and dining room with wood fire encased within an original brick fireplace, plenty of room to entertain. Large original windows and Baltic floors lead down the main hall to the country style kitchen and meals area. Country style kitchen with new benchtops, cabinets, splashback, sink, tap fittings, gas oven/cooktop, rangehood and dishwasher, with spacious adjoining laundry/utility room leading out to the garden. Additional Features: Freshly painted throughout, new blinds, split system, Electric hot water service, Electric wall panel heaters, Energy-efficient LED lighting, NBN connection. Cottage Size: Approx 100m2, Potential Annual Rent: $24,960 @ $480 per week (including water usage)
Outdoors, the established European styled gardens will offer color in Spring scattered along the long driveway. A veggie patch and herb garden, plus fire pit area out the back of the cottage with the added benefit of plenty of off street parking, plus entertaining area.... this property is full of possibilities.
Rear Studio Unit:
The rear studio unit, Unit 2, has been freshly updated, perfect for a new tenant or multi generational family options. Freshly painted and updated throughout, offering one bedroom, one recently updated bathroom with open plan lounge, kitchenette, featuring a gas oven/cooktop, dishwasher, electric hot water, electric wall panel heaters, new blinds. Approx. Approx. Studio Size: 35m2 Potential Annual Rent: $18,250 @ approx. $350 per week (includes water) Unit 2 is currently vacant so the options are yours!
Shared laundry facilities between the two units allow for additional privacy.
Front Studio Unit:
Front studio unit, Unit 3, is currently tenanted til March 2022. Freshly painted and updated throughout. Offering one bedroom, one bathroom with open plan lounge, kitchenette, gas oven/cooktop, electric hot water, electric wall panel heaters, new blinds and a great covered front porch. Approx. Studio Size: 42m2 Potential Annual Rent: $17,160 @ $330 per week (includes water)
Property has been refreshed, repainted, and refurbished, including electrical and plumbing, ready for the next twenty years of tenants with a great recurring annual gross rental income from the three tenancies close to $60,000 + CPI. For the investor, this property yields a gross rental return of approx. 6%. Contact us via email for further details or to book a time to inspect privately.
Please note: All property details shown are correct at time of publishing. Some properties may have been sold in the preceding 24 hours and we recommend that you confirm open for inspection times with the listing agent direct or the listing office.
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