24 Thomas Street, Kangaroo Flat VIC 3555

A rare find, this property consists of 3 x one-bedroom units (one title), each including a separate carport. With a current weekly rental of $580, and a strong history of great long-term tenants, it presents a solid investment opportunity.

Each unit comprises living area, bedroom, bathroom, separate laundry, and kitchen with electric upright cooker and eat-at bench. Storage facilities include a built-in robe with hanging and shelf space in the bedroom, and a floor-to-ceiling two-door cupboard in the laundry. The back door opens onto a walkway leading to the communal clotheslines.

The combination of brick and timber-look feature walls lends a touch of character. And large windows in the north-facing lounge and bedroom add brightness and warmth on sunny winter days.

The owners are currently replacing gas wall furnaces in the living areas of the units with electric panel heaters. The incorporated timer facility on these appliances means tenants can wake up cosy on frosty mornings. A split system provides additional comfort, while screen doors – front and back – escort cooling breezes through the space at the end of long summer days.
Everything is in place for simple and practical living.

The location will also appeal to tenants. A 10-minute walk gets them to the local shopping strip, putting bus stops, ALDI, IGA, Chemist Warehouse, take-aways and restaurants within easy reach. Kangaroo Flat library is even closer – a great place to relax with a cuppa and book when they feel the need to get out.

When a tenant of 29 years recently vacated unit 2, the owners grabbed the opportunity to update before welcoming the next tenant in. Fresh paint throughout. New carpet, blinds and curtains in the bedroom and living area. New shower and floor tiles in the bathroom. Even a new front door! Together these changes showcase the potential of the residences.

This property enables you to think outside the ROI box. If you have a young adult child eager to move out of home, or an elderly relative needing a place that is easy to manage, set aside one unit for your family and use the remaining two to generate a return on your investment.

Whichever way you look at it, this property is a unique investment opportunity which demands closer inspection.