An outstanding opportunity for investors seeking immediate rental income and flexible tenancy arrangements, 7 Carthew Street, Mount Gambier presents a comprehensively updated property with strong returns already in place.
Positioned in a convenient and established location close to schools, shopping and the centre of Mount Gambier, the property offers an attractive combination of versatility, cash flow and future flexibility.
The main residence provides comfortable accommodation with updated interiors and practical living spaces.
Currently configured for shared accommodation, the property includes beds in all rooms. One of the single rooms is currently vacant, providing immediate leasing potential for incoming investors.
A standout feature of the property is the fully self-contained granny flat positioned at the front side of the home. Recently renovated, this space includes its own kitchen, bathroom and private living facilities, creating an ideal additional income stream or dual-living setup.
The property is being offered fully furnished, with inclusions extending to beds, quilts, bed linen, desks, televisions, towels and most kitchen appliances, providing a genuine walk-in, walk-out investment opportunity. Existing tenants are also in place, allowing investors to benefit from immediate holding income from settlement.
Set on a generous allotment of approximately 824m², the property also offers excellent side access, ample parking and further outdoor space for vehicles, trailers or recreational equipment.
Investment Highlights
Multiple established income streams
Renovated self-contained granny flat with kitchen and bathroom
Flexible lease arrangements currently in place, including both 3-month and 6-month terms
Fully furnished investment opportunity
Existing tenants in place
Strong gross rental return
Ideal set-and-forget investment or future owner-occupier opportunity
Current Rental Income
Main Residence Private Leases (Class 1B)
Large Room - $230 per week
Middle Room - $220 per week
Small Room - $200 per week
Living Room Accommodation - Currently utilised as additional rental accommodation
Self-Contained Granny Flat
$320 per week
Total Combined Rental Income
$970 per week
Indicative Return
With a current listing range of $599,000 $609,000, the property presents an attractive gross rental yield for investors seeking strong cash flow potential in today's market.
Approximate gross rental yield of 8.28% at $609,000
Lease Structure
Current tenancy agreements include a mixture of flexible 3-month and 6-month lease terms, providing investors with adaptability and future flexibility moving forward.
Properties offering diversified income streams, renovated presentation and dual-living flexibility continue to attract strong investor attention, particularly throughout regional South Australia where rental demand remains strong and vacancy rates remain tight.
A rare opportunity to secure an immediately income-producing asset with excellent versatility and long-term appeal.
Owner Renovation Video
https://youtu.be/i1u_mCnQTu8?si=knC8QYDMDy8BKhgk
▶
