Description

Here is an excellent opportunity to purchase 4 flats on one title. Located on Stuckey Street in Millicent in the beautiful South East of SA, this property has been consistently updated and meticulously maintained by its current owner offering you quality and peace of mind. It's just a short walk to the main street, supermarket, shopping, post office, newsagent, doctors’ surgery, and dentist.

The property is fully leased with good long-term tenants in place. With interest rates so low and a total income of $580.00 per week (Gross rental yield of 7%) the property is ready and waiting for a savvy investor.

Unit 1:
Is an open plan bedsit. There is a carpeted bedroom/lounge with separate adjacent eat in kitchen with electric cooking. The bathroom has a bath and a shower with a separate toilet and laundry. This unit is currently leased at $90.00 per week on a Periodic Lease.

Unit 2:
Carpeted lounge room off hallway with front porch access and r/c air conditioning. One carpeted bedroom. Eat in kitchen with vinyl flooring and electric cooking. Bathroom with vinyl tiles, shower, toilet, and basin. The laundry trough and washing machine taps are also in the bathroom. There is a rear entry into a porch/ mudroom. This unit is currently leased at $170.00 per week with the Lease Ending 29/9/2022.

Unit 3:
Fully renovated in neutral tones with bright and modern finishes. There is an open plan kitchen, dining, lounge with r/c air conditioning. The kitchen has new electric cooking, wood laminate floors and new carpets in the lounge area. Bedrooms one and two also have new carpets. The tiled bathroom is fully renovated with shower, basin, and a heat light for comfort. There is a separate tiled laundry. This unit is currently leased for $160.00 per week with the Lease Ending 8/3/2023.

Unit 4:
Open plan renovated kitchen, dining, lounge. Kitchen with electric cooking and vinyl flooring, the lounge is carpeted. There are two carpeted bedrooms. The bathroom has a shower, basin, and the toilet. The laundry is separate. There is also a small rear lawned yard off this unit and a carport. This unit is currently leased for $160.00 per week with the Lease Ending 20/7/2022.

The residences are freshly painted stone buildings with iron roofs. There is a communal lock up storage shed and undercover parking for three of the units and the yard is easy care neat and enclosed.

Smart investors take note.

GENERAL PROPERTY INFO
Property Type: solid mount gambier Linestone
Zoning: Neighourhood
Council: Wattle Range Council
Year Built: 1930
Renovations: consistently since 2014
Land Size: 1071m2
Rates: $
Lot Frontage: 20.3m
Lot Depth: 58.1m
Services: town water and sewer.
Certificate of Title Volume 5724 Folio 847