Looking for an affordable investment property with strong rental returns and an established tenant already in place?
Welcome to 5 Richardson Street, Mount Magnet - a fantastic opportunity to secure a positively geared investment in Western Australia's historic gold mining region.
Positioned on a generous 965sqm block, this neat and practical three-bedroom home is currently leased at $450 per week to a reliable, long-term tenant who has taken great care of the property.
With an asking price of just $175,000, the property generates an impressive gross rental income of $23,400 per annum, representing approximately 13.37% gross rental yield.
Built with a steel frame, iron roof and low-maintenance exterior cladding, the home offers practical living spaces, air conditioning, a covered outdoor patio and a carport. Its established tenancy and attractive rental return make it a compelling addition to an investment portfolio.
FEATURES
• Steel-frame construction with iron roof and exterior cladding
• Three good-sized bedrooms
• Master bedroom with built-in robe, wall-mounted air conditioner
• Ceiling fans to bedrooms two and three
• Separate lounge with wall-mounted air conditioner and ceiling fan
• Open-plan kitchen and dining area
• Kitchen equipped with gas cooktop, oven and double sink
• Bathroom with shower, bathtub and vanity
• Separate toilet
• Covered outdoor patio
• Carport
• Generous 965sqm landholding
INVESTMENT HIGHLIGHTS
• Asking Price: $175,000
• Current Rental Income: $450 per week
• Annual Rental Income: $23,400
• Gross Rental Yield: Approximately 13.76%
• Tenancy: Reliable, long-term tenant in place
• Land Area: 965sqm
About the Town - Mount Magnet
Mount Magnet is a well-established regional community with a rich mining heritage, providing an affordable entry point into the Western Australian property market. Situated in the heart of the town, the property offers convenient access to local shops, schools and essential town amenities.
Contact Listing Toolbox today for further information or to discuss this investment opportunity.
Disclaimer: All information is provided for general marketing purposes and should be independently verified by prospective purchasers. Rental income reflects the current advised rent. Gross rental yield is calculated on the asking price before management fees, rates, insurance, maintenance, vacancy and other ownership expenses. Past or current rental performance is not a guarantee of future returns.
