$780,000 - $850,000

232 South Valley Road Highton

$50,000+ p/a income; a 963sqm allotment; a highly visible and accessible position; and all within 250 metres of the Waurn Ponds Shopping centre. The current income has scope to increase; the property has a permit for 7 occupants (currently there are 6), but most importantly as an investment it is an income from day one. It was originally positioned to maximise access to public transport, shopping facilities, it offers ease of access to Deakin University and the property has a strong history of excellent student tenants. The unique advantage of this property is that it is not one dimensional. The location allows it to be utilised as a rooming house; student accommodation, and importantly it offers exceptional commercial potential. The South Valley Road frontage will give any business a brilliant visual presence, the floorplan offers the flexibility of multiple consulting rooms, and the side access creates enormous potential to convert the rear yard into car parking. This style of investment property will return approx 6% - 7% long term and spreads the risk due the multiple tenancies. For the commercial buyer, the immediate and recurring income will allow you to make long term plans around improvements and capital works while still receiving an income. The location would suit a Medical clinic, Dentist, Physiotherapist, Chiropractor, or any combination of service providers such as Accountants, Financial Planners or Tax agents. The design of the property creates enormous flexibility, with the kitchen & meals area create a central hub and the bedrooms all lead off from this area. There is room out front to create further parking as required, and the South Valley Road position makes it extremely accessible.

Potential rental return $920 - $1020 per week. To discuss in further detail please contact Emily Reid on 0411 497 783.

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.