A rare opportunity to secure an entire block of three fully self-contained residential units on one title, offering three income streams, no body corporate fees and a substantial 1,014m² landholding.
Currently returning $890 per week / $46,280 per annum, the property represents an attractive gross yield of approximately 7.1% at $649,000, with all three units securely leased into 2027.
Current Rent & Leases
Unit 1 - $290 per week - leased until March 2027 (rent increase due March 27)
Unit 2 - $300 per week - leased until September 2027
Unit 3 - $300 per week - leased until October 2027
Each one-bedroom brick veneer unit is fully self-contained and includes its own kitchen with pantry and combined bathroom/laundry.
More Than 1,000m² of Land
An additional feature of this investment is the generous 1,014m² allotment, with approximately 500m² of largely unused land at the rear.
This substantial rear area provides additional flexibility and potential for future use or development, subject to council approval (STCA). Buyers are encouraged to make their own enquiries regarding future development possibilities.
Investment Highlights
• Entire block of 3 self-contained residential units
• All 3 units on one title
• No body corporate fees
• Current rental income of $890 per week / $46,280 p.a.
• Approximately 7.1% gross yield at $649,000
• All three units leased into 2027
• Substantial 1,014m² allotment
• Approximately 500m² of largely unused rear land
• Brick veneer construction
• Three established rental income streams from a single investment
Convenient George Town Location
The property is within walking distance of Port Dalrymple School and conveniently located close to George Town's town centre, marina, supermarkets, hospital and other everyday services.
George Town is also well positioned for access to the Bell Bay industrial and port precinct, while Launceston is approximately 50km away.
For investors looking nationally for a multi-unit residential holding, this property combines strong existing income, secure leases, no body corporate fees and a substantial landholding in one investment.
