168 Steele Street presents an exceptional opportunity for both investors and families, offering multiple income streams, flexible living arrangements, and a central Devonport location.
For investors, the property is configured to maximise returns with three distinct rental options. A self-contained studio with private entry, open plan living, one bedroom, one bathroom, and off-street parking is currently leased at $280 per week, with a confirmed increase to $350 per week from 14/7/26. The 11m x 6m external shed also has a lease in place and is achieving $99 per week.
The main residence is tenanted with an agreement in place until November this year and is achieving $525 per week. Designed for comfortable living, it features three bedrooms, a study, a modern kitchen, an updated bathroom, and sun-drenched living spaces that embrace the north-facing aspect and capture beautiful water views. Combined, the property offers the potential to generate a return of over 6.3%, representing a strong yield and secure income-producing asset.
Beyond its investment credentials, the property also caters beautifully to lifestyle buyers. Families with older children or those seeking multi-generational living will appreciate the independence of the separate studio and flat, while still enjoying the connection of a shared home. The internal staircase links to a versatile lower-level rumpus or home office, alongside the main laundry and single garage, adding further flexibility.
Practical features such as an 11 x 6 metre shed with an extra-height roller door, a secure yard, and extensive off-street parking further enhance the property's appeal. This substantial brick home offers immediate rental income, long-term growth prospects, and a layout that suits both investors and families looking for adaptable living.
With multiple income streams, modern updates, and a prime location, 168 Steele Street is the ideal choice for investors or families seeking flexibility and long-term growth.
**McGrath Devonport believes the information contained is accurate; however, interested parties should rely upon their own enquiries. Plans are indicative only.
