166 Murdoch Road, Wangaratta VIC 3677

With three properties on the block, and scope to build another dwelling, this investment opportunity is sure to attract strong interest as-is, or is well-suited to the developer looking for a project with further potential. Located at the rear of 166 Murdoch Road are two excellent brick units in tip-top condition, while at the front is a two-bedroom weatherboard home that serves as a third income stream. In between is enough land to build another unit or townhouse to really maximise this property's potential (STCA). Long term tenants in all three dwellings on secure leases, generating annual gross income of $33,020. Block size 1180 square metres (approx.).

Features:

House (1/166 Murdoch Road): 2 bedrooms, open plan kitchen/dining/ living. Electric oven with gas cooktop. Split system, gas heater. Separate toilet. Shower over bath. $165 per week, secure lease to September 1, 2021.

(2/166 Murdoch Road): Sufficient land (17.8m wide x 11.3m deep approx.) to build an additional dwelling, subject to council approval.

Unit (3/166 Murdoch Road): Brick and slab. Colorbond roof. Two bedrooms with built-in robes. Open plan kitchen/dining/living. Split system. Electric oven, gas cooktop, pantry. Bath and separate shower. Single lock-up garage with electric roller door. Excellent condition for age. Same tenant for past 2 years. $240 per week, secure lease to July 9, 2021.

Unit (4/166 Murdoch Road: Brick and slab. Colorbond roof. Two bedrooms with built-in robes. Open plan kitchen/dining/living. Split system. Electric oven, gas cooktop, pantry. Bath and separate shower. Single lock-up garage with electric roller door. Excellent condition for age. Same tenant for the past 14 years. $230 per week. Secure lease until December 16, 2021.

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