Rarely does an opportunity like this come to market in Ararat. Set on approximately 999m² with both front and rear access, this unique property offers two dwellings on one title and an array of possibilities for investors, developers, renovators, or owner-occupiers seeking future potential.
The rear dwelling is a neat and well-maintained two-bedroom home featuring a functional kitchen, open plan living area with split-system heating and cooling, practical bathroom, separate toilet, and double carport. Adding immediate appeal, the property is securely leased to an excellent tenant until May 2027, returning $360 per week.
Separated by fencing from the rear residence, the original front dwelling is currently uninhabitable and has been stripped back to an empty shell internally. However, it presents a compelling opportunity for those with vision. The current owner has previously obtained plans for a two-bedroom renovation and extension incorporating the existing structure, while alternative options may include demolition and rebuilding or replacing the dwelling with a transportable home (STCA).
Dual-dwelling properties offering the potential for two income streams are a rare find in the Ararat market. Whether your goal is to create a strong investment with dual rental returns, renovate or rebuild the front residence while retaining the existing tenancy, or eventually occupy one dwelling while generating income from the other, the possibilities here are extensive.
Opportunities with this level of flexibility, income security and future upside don't come along often.
Contact Brad or Luke today to arrange your inspection and explore the potential for yourself.
*Note that furniture has been digitally removed from this property for privacy of the tenant*
