~ Corner of Chasewater Street and backing onto Laffers Lane ~
Please note; The Vendor has elected to market this property without a price range given its unique nature, use, zoning and that is situated with 3 street frontages.
Government legislation prevents us from making any price/value statements.
If you are interested. I can provide you with a list of recent sales in the area to assist you with your market research. This can be obtained at inspections or emailed.
This unique property is currently disposed of as 3 separate units on 1 Title. Situated on a generous allotment of 935sqm (approx.) offering a wonderful investment opportunity with an excellent potential rental income of $665 per week (potentially $35,000 pa).
The original property was built in 1934 and has a local heritage listing. It offers a range of options ~ either live in, rent out, renovate, or it may have future development opportunities (subject to Council consents).
Unit 1: Featuring a very spacious living room with polished floors and gas heater, updated kitchen and dining. There are 2 bedrooms ~ the main is a very generous size, has built in robes and a feature fireplace. The neat bathroom also incorporates laundry facilities. There is also ducted reverse cycle air conditioning as well as both a carport and garage off Sizer Street. Potential rental is $275 per week.
Unit 2: Currently tenanted to excellent tenants (paying $240 per week) who would love to remain at the property ~ they are willing to relocate into Unit 1. This unit features a living room with polished floors and air conditioner, fireplace and high ceilings. The main bedroom has direct access to the bathroom, there is also a second bedroom/study, updated kitchen with gas stove, and a large laundry. This unit has access to a garage for storage plus a carport off Chasewater Street.
Unit 3: Comprises of one bedroom, eat in kitchen, bathroom and laundry. Potential rental is $150 per week.
Fantastic location, with 2 street frontages (Sizer St and Chasewater St) plus rear access from Laffers Lane. It is perfectly situated within walking distance to Mitcham Shops and Cinemas, Mitcham Train Station, and the bus stop providing easy access to the CBD. All facilities including excellent schools, cafes and restaurants, parks, Flinders Medical Centre and Uni are within easy reach.
Council: City of Mitcham
Council Rates: Unit 1 $1,063.25/Units 2 & 3 $1,063.20 each per annum
SA Water: $256.12 per quarter
ESL: $170.75 per annum
Land Size: 935sqm (approx)
Year Built: 1934
Zoning: Residential(CP)PA8 ~ Local Heritage.
