Live in or Invest
This charming single fronted Victorian style cottage has recently been renovated with a new kitchen and bathroom, rewiring etc. If you want a property that needs minimal work with maximum return then you’ve found it. [With Mildura moving up the property market, Ouyen is hot on its heels. Along with the Zirconia mines in the area,] this property just oozes potential, AND its been subdivided already (STCA). Ripe for the picking and ready for your offer. Due to be rented out for 6 month lease again at $155-160 per week.
The property has been subdivided already – which means Investors, all you have to do is put a house on it and collect 2 rents instead of one. Ouyen has a strong Zirconia mining influence. And Mildura has a proposed casino as well.
Each plot on the property has been valued between 65 and 70K, with two on the land the bank has recently valued the property for $133,000.
We’ve done the hard work and waiting, the land is already subdivided.
We are starting our selling price at $107,000
(that’s a gross return on investment of 7.53% to 7.77%)
with the ad running for a month, lets see where this takes us.
As always we have a reserve price in price but if this is met at any point, we will go with the buyer and take the ad off.
Recent renovations done to the property:
- all the electrical (wires, switches, power plugs have been completely changed and checked)
- all the carpets have been removed and new matching ones have been placed
- the kitchen cupboards have been changed completely giving it a fresh new look
- the doors (internal and external) have been changed completely with locks and painted
- the Bathroom vanity is brand new
- new bath, bath curtains, sinks, taps, exhaust fan etc
- air con and heaters have been recently checked and serviced
- the nature strip has been mulched and cleaned
- the house looks impeccable
- all you have to do is move i
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Property details |
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Bedrooms: | 3 |
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Bathrooms: | 1 |
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Heating: | Electric Heater |
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Cooling: | Air Conditioner(s) |
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Year built: | 1940 |
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Construction type: | Weatherboard |
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Lot area: | 906 Sq. Metres approx. |
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