Steeped in history and character, this substantial property, originally constructed in 1925, has evolved beautifully over the decades to offer a unique opportunity in one of Ulverstone's most convenient locations.
Positioned on a generous 1,074m² corner allotment just a short stroll from the town centre, this impressive property comprises three self-contained residences on a single title, presenting an array of possibilities for investors, extended families, or those seeking additional income streams.
The accommodation consists of two well-appointed two-bedroom units and one spacious three-bedroom unit. Each residence enjoys its own lounge, kitchen, dining area, bathroom, and laundry facilities, providing comfortable and independent living for occupants. Two of the units are further enhanced by an adjoining undercover deck, creating a welcoming outdoor space to relax and unwind.
Outside, residents share a large communal backyard, complete with individual clotheslines for each tenancy, while off-street parking is available via common grounds shared by all three occupancies.
Currently occupied by long-term tenants, the property offers immediate income with a gross rental yield of approximately 4.94%. With rental demand remaining strong, there is potential to increase returns to around 6.3% in the current market, making this an attractive proposition for savvy investors.
Beyond its investment credentials, the property's versatility is what truly sets it apart. Whether you're looking to accommodate extended family, provide independent living for adult children or ageing parents, or occupy one residence while generating income from the remaining two, the opportunities are extensive and adaptable to changing lifestyle needs.
Conveniently located close to schools, shopping, medical services, and everyday amenities, this is a rare chance to secure a significant property with multiple income streams and endless future potential.
Properties offering this level of flexibility, income potential and central convenience are seldom available. Explore the possibilities and discover what this unique Ulverstone holding could mean for your future.
*All information provided is deemed reliable but is not guaranteed and should be independently verified. Property measurements, including square footage, room dimensions, and land size, are approximate and may vary.
*Buyers are encouraged to conduct their own inspections and due diligence to confirm the accuracy of all details.
