You're not likely to encounter many properties like this in your travels. 9 Debenham Street sits on a large, flat and level block in one of Canberra's most popular suburbs. This could be the ideal blank canvas you've been waiting for, but in the meantime it has been set up for a very specific purpose...making money.
In its current configuration, this versatile home contains not one, but five rental properties. It is currently yielding nearly $1,000 per week to the current owner, and has been constantly rented with long-term tenants since they took over. What's even better, is that for 5 lots of income, you are only paying one set of rates and land tax.
The main residence in the home is a spacious 1 bedroom flat, with a separate lounge, kitchen and bathroom. This is completely private from the rest of the property, and has its own separate entry. This gives it great versatility, as you could live here and rent out the other 4 properties, massively subsidising your mortgage and getting you into the property market at a fraction of the normal ongoing cost, all while building an asset for yourself.
Of course, you could also wipe the slate clean, and either gut the house or rebuild on the block, which would get you a new home, backing reserve in a terrific location, and while you are getting your plans drawn up, you can be earning a much higher income from the property than any other renovator or knockdown you are likely to find.
What's on offer:
- Single bedroom self-contained flat with 4 additional self-contained studios attached
- Rental potential over $1,000 per week
- Large, flat block backing reserve
Walk to:
- Southlands Mawson
- Swinger Hill Shops
- Mawson Oval
Easy access to:
- Woden Town Centre
- Canberra Hospital
- Cooleman Court
- CBD
- Canberra Airport
- Fyshwick
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