$1,150,000 - $1,250,000

1-4/12 Thomas Street Geelong West

This exceptional investment opportunity is low risk; offers a solid yield and provides future growth potential. Located within 450 metres of the Pakington Street Lifestyle precinct, the property is set on 639sqm and offers 4 individual units. The current income is $1075 per week, with all the units currently leased. There are two, 2-bedroom units and two, 1-bedroom units, storage shed and a spacious open rear yard. Three of the four units have been renovated, each has been re-painted, and includes new floor coverings, updated kitchens, and refurbished bathrooms. The property has had significant work over the past few years including a new roof, new sewer, plumbing, updated electrical, plus a recently replaced driveway and rear patio area. The benefit of having 4 units under the one roof minimises the overall risk if one becomes vacant, as the property will continue to generate income. The property has always been popular due to its affordable rent, location, and quiet location. It is approximately 1km to the Geelong Station; 1.3km to the Geelong Waterfront, Deakin University, and major Government employers. This exceptional long term investment offers the purchaser the opportunity to add value to the last unit, and maximise the work already completed.

In order to protect the health and safety of all Gartland Property staff and clients, and In-line with current COVID-19 (Coronavirus) updates, you may be asked to adhere to current social distancing recommendations when inspecting this property.