5 Joami Street, Cheltenham VIC 3192

$2,300,000-$2,530,000 | Expressions of Interest

9 beds

4 baths

6 parking

Immediate Income with Future Options

Uncover a rare investment opportunity with this versatile double brick property on a generous 672sqm (approx) corner block. Situated in a peaceful cul-de-sac close to an array of amenities, the share-house arrangement allows you to earn an immediate income, sit back and reap the rewards or plan for a designer redevelopment whilst your account ticks over.

As it stands, the varied accommodation is fully occupied with formal lease agreements in place and returns approximately $2,700 per week ($140,400 per year). Upstairs comprises seven individual bedrooms - one with ensuite - along with a shared bathroom and large kitchen/dining area with cooking appliances and a washing machine. The largest abode occupies the entire lower level, providing a self-contained space with two bedrooms, living and dining areas plus a kitchen/laundry and bright bathroom.

Including low maintenance outdoor areas - some rooms enjoy access to a rear alfresco patio - the property offers ample storage inside & out plus some heating/cooling options together with both a double & single garage and substantial onsite parking.

Takeover ownership then decide the future. Continue the current arrangement and enjoy the profitable investment, perhaps consider modifying the existing accommodation to create a family home or instead clear the valuable corner site and build a luxury new residence or multi-dwelling development capitalising on the wide 672m frontage (STCA).

An easy walk to bus stops, Franks café, Le Page Primary School and Cheltenham Secondary College, this sought-after locale is also within moments of Southland shopping centre.


PLEASE NOTE:
*Every precaution has been taken to establish the accuracy of the above information but does not constitute any representation by the vendor or agent.
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Property Details

• Type: BlockOfUnits
• Bedrooms: 9
• Bathrooms: 4
• Garage Spaces: 4
• Other Parking: 2
• Land Area: 674 m² (approx)