Opportunities like this are seldom seen in Geelong. With no body corporate and securely leased to an NDIS provider, this entire block of four units offers investors a strong, consistent return from day one.
Each unit currently returns $320 per week, generating a combined annual income of $66,560. With an asking price of $1.25 million, the property offers an impressive 5.3% gross yield, a true set-and-forget investment with stable, long-term tenancy already in place.
The tenants' current lease runs for 12 months, with an option to extend for a further two years, providing strong continuity and peace of mind.
Beyond the immediate return, the property offers compelling future upside. Investors may explore increasing rental returns over time, enhancing the dwellings, or (subject to council approval) with the opportunity to sell the units individually.
Positioned in a quiet Herne Hill pocket close to Pakington Street, Minerva Road shops, and quality schools, this blue-chip location underpins the investment with enduring demand and capital growth potential.
Gas and electrical safety certificates for all four units will be completed prior to settlement. Annual rates are $4500 approx per annum and $3,100 barwon water per annum. Blocks like this rarely come to market. Once they're gone, they're gone.
Contact Ricky Forte from Geelong Real Estate Co to register your interest and receive the contract of sale and condition reports.
