Just a flat 700-metre stroll from the pristine shores of Port Phillip Bay and the scenic Foreshore Reserve, this rare offering combines lifestyle appeal with immediate income potential. Perfectly positioned close to Rye's vibrant township, cafes, shops, and local attractions, this is an opportunity not to be missed.
Set on a generous, level allotment of approximately 1,011m², the property comprises three self-contained units – all on a single title – currently tenanted by long-term occupants.
• Unit 1 (original house): 3 bedrooms, 2 living areas
• Unit 2: 2 bedrooms
• Unit 3: 1-bedroom apartment (converted garage)
• Shared laundry and secure storage facility included
Currently returning $38,000 per annum in rental income – with scope for a substantial increase – this property offers a solid yield, especially given that rental rates have not been reviewed in several years.
With quality new homes being developed nearby, this property also presents the perfect opportunity for those looking to build their dream home. Enjoy consistent rental income while planning your future build – a savvy way to offset holding costs during the pre-construction phase.
Whether you're a seasoned investor seeking strong rental returns and long-term capital growth, or a lifestyle buyer with a vision for the future, this versatile property delivers unmatched potential in a highly sought-after location.
