362 Napier Street, White Hills VIC 3550

This property boasts location as it is located 4 minutes' drive to Bendigo City Center. Within 10 minutes' walk and you can enjoy all that Lake Weeroona Park has to offer. A short 2 minutes' stroll to O'keefe rail trail and Weeroona Oval. Those with kids will appreciate the great location of Weeroona College and childcare center. This property is situated in the Midland highway with heaps of traffic passing by. It is in a residential zone, and it has council approval to run certain businesses.

Great income:
Currently, the property is leasing to an excellent tenant at a great rental of $28,171.2 including GST per annum. The tenant is also paying the outgoings including the city council rate and building insurance. The tenant is living in the property and running a home based business (massage shop) under city council permit.
There is a vacant shed/studio at the back which was rented out to a cleaning company for $9,152 including GST per annum. You can continue to rent it out to maximise the rental income or turn it into a granny flat (STCA).

Potentials and opportunities:
This property is sitting in an approx. 720 m2 corner block, which offers the investor or developer the profitable opportunity to subdivide the land into half (STCA). The rear block of land will have its own access from Baden St. You can keep the current tenants in the existing house for receiving the rent and then sell the rear block. You can also build a house on it or build 2 townhouses. You can find the sale history online that a block of 720m2 land in 284 Napier St. was sold for approx. $770,000, and a 300m2 vacant land in 318 Napier St was sold for $320,000. The property offers 6 rooms, kitchen, shower, and toilet facilities. The inside has been nicely upgraded like the wall painting, flooring, etc. The gas hot water was recently replaced, it also has a new electric cook burner, and an oven was installed. It is also ideal for a buyer who is thinking of setting up a beauty, medical, viet, office business or even home business etc. in the future. You can also turn it into a residential living or change it as a short-term rooming house. The opportunity is endless.

Please contact Jacky Zheng 0468 870 611 for a private inspection.