Situated on a level block in the desirable suburb of Newtown, this weatherboard home presents a remarkable investment opportunity with great potential for first home buyers or investors. Perfectly positioned near local schools and shops, the property has been ingeniously converted into two separate units, offering flexibility and substantial potential. Currently, it returns $755 per week ($39,260 P/A), reflecting a 5.5% return on investment, with the exciting opportunity to further increase the return when the current leases end in December and January.
Unit one features a spacious double bedroom, a large bathroom with a separate laundry, and its own kitchen and dining area. Meanwhile, unit two boasts two generous double bedrooms, a large bathroom complete with toilet and laundry facilities, and its own distinct kitchen and dining space.
The property's layout allows for various possibilities: first home buyers can live in one unit while renting out the other for supplementary income, or combine the units into a substantial single residence by removing a partition wall. This transformation would yield a spacious home with three bedrooms, two bathrooms, two kitchens, and two living areas—an ideal setup for larger families or those seeking expansive living quarters.
Beyond its practicality, the home's proximity to the vibrant North Hobart eateries and theatre, coupled with its easy walking distance to Hobart central, enhances its appeal. Currently leased to excellent tenants who maintain the property impeccably, this opportunity promises both immediate returns and long-term investment potential. With the potential for increased rental income on the horizon, this is an investment opportunity not to be missed.
For further details or to arrange a viewing that will undoubtedly impress, contact us today.
Disclaimer:
The information contained in this listing has been supplied to Win Em All P/L trading as Homelands Property from a variety of sources and to the best of their knowledge. The Agents are unable to verify whether the above information is accurate. All interested persons should make and rely upon their own enquiries in order to determine whether or not the information is, in fact accurate.
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