Block of 9 X 2 Bedroom strata titled units in this prime location
Located immediately opposite the Geelong Hospital this group of units is perfectly located in the heart of the medical precinct and only 800 metres from the CBD and Geelong Waterfront.
Each unit comprises
• Two generous bedrooms
• Living and dining adjacent kitchen
• Bathroom incorporating laundry/ separate toilet
• Easy access undercover carport
Each unit has its own aspect, and the upper-level units have some nice views.
There is a huge opportunity to upscale this group over time. 7 of the units are currently let with an overall potential return at full occupancy of $170,000 P.A gross approx.
Upgrade each unit and utilise as short time accommodation as tenants move on to increase income without disturbing the existing tenants to create a mixed income.
A 5-year plan could see all upgraded along with an update of the exterior and gardens.
Importantly when you decide you can sell the group as a whole or sell individually over time to spread the profit due to the existing strata title.
The current Zoning for this large 1,435m2 (North/East) corner allotment is Residential Growth Zone - Schedule 2 which means the highest and best use for this property could well change over time as demand grows in this superb location.
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