Opportunities like this are incredibly hard to find. Positioned on a well-sized block in established Crestwood, 5 Leck Street comprises three separate units held on one title, creating an exciting proposition for investors, builders or renovators looking for something well outside the ordinary.
The accommodation is made up of two one-bedroom units, while the third provides two bedrooms together with a separate lounge. Each residence offers the foundations for comfortable independent living, with enormous scope to renovate, modernise and improve the property over time.
There is no hiding that the units require work, but that is exactly where the opportunity lies. Rather than paying for somebody else's improvements, the next owner can take what is already here and add value across three separate residences, with the potential to significantly strengthen the overall rental return and long-term appeal of the property.
Outside, the property benefits from a good amount of land, a separate shared laundry, double carport and an additional single car space.
For investors, the numbers are particularly interesting. Current Crestwood rental data shows one-bedroom units achieving a median of around $350 per week and two-bedroom units around $450 per week, highlighting the potential income available once the property is brought up to the appropriate standard.
Crestwood remains a convenient and well-established part of Queanbeyan, with schools, shops, public transport and the Queanbeyan CBD all within easy reach, while still providing straightforward access into Canberra.
Whether the plan is to renovate and hold, improve the rental return over time or simply secure a genuinely unique multi-dwelling property, 5 Leck Street is an opportunity with plenty of upside.
Council Rates - $1,721.5 Quarterly
