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$695,000 - $725,000
Situated on a large and level allotment in the quiet township of Tarpeena less than 20 minutes north of Mount Gambier, "10 Draper Street" offers a fantastic investment opportunity with 6 units spanning across 2 separate street frontages, with proven rental return and even greater future potential that currently returns $50,440 per annum ($970 per week).
Each unit consists of 2 bedrooms, 1 bathroom, dine in kitchen and comfortable lounge space, with separate yards and assigned carports providing undercover parking.
On the Draper Street side built approximately 1960s, the south facing entry to each unit is sheltered by a veranda along the full length of the property. Inside, the carpeted lounge includes reverse cycle air conditioning to comfort the space all year round, with carpeted bedrooms adjoining, one with built in wardrobes. The kitchen takes in north facing light in a bright and neutral space with an eat in dining area, with electric cooking and ample storage. Wet areas include a bathroom with walk in shower, toilet and vanity, with additional storage in the passage, and laundry facility at the back entry (which is enclosed in unit 1). Outside, each unit has their own enclosed yard space providing security and privacy, or could be suitable for small pets.
With a north facing aspect overlooking rural views, the Francis Terrace West units built approximately 1980's also includes a full-length veranda along the front of the building, with a more modern aesthetic and solid construction throughout. Similar in its features, each unit provides a carpeted lounge on entry with reverse cycle air conditioning, adjoined by a kitchen with electric cooking. The two bedrooms are larger than their original counterparts, whilst wet areas include a walk in shower, vanity and convenience of a separate toilet, and each unit includes enclosed laundry facilities. Separate enclosed yard spaces and assigned carports are also available for each unit.
All six units are currently on a single title with shared water meter, and are currently tenanted with information provided below.
Draper Street:
Unit 1 - $160 per week - fixed to Jan 2025
Unit 2 - $155 per week - fixed to Oct 2024
Unit 3 - $155 per week - fixed to July 2024
Francis Tce West:
Unit 1 - $165 per week - fixed to Oct 2024
Unit 2 - $170 per week - fixed to Feb 2025
Unit 3 - $165 per week - fixed to Nov 2024
A fantastic addition to any rental portfolio, with industry growth and investment at the local mill nearby along with close proximity to the regional hub of Mount Gambier providing further employment and retail options. Regional South Australia has shown excellent growth and forecasting even greater opportunities ahead - secure your interest and don't miss out, contact Alistair for more information today.
RLA - 291953
Additional Property Information:
Approx Property Age:
Draper St units - approx. 1960
Francis Tce units - approx. 1980
Land Size: 2023sqm
Council Rates: $430 per quarter per unit
2A & 2B Mitchell Street, Mount Gambier SA 5290
Call Alistair Coonan on
0422156363
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