Investment Opportunity With Proven Return

Situated on a large and level allotment in the quiet township of Tarpeena less than 20 minutes north of Mount Gambier, "10 Draper Street" offers a fantastic investment opportunity with 6 units spanning across 2 separate street frontages, with proven rental return and even greater future potential that currently returns $50,440 per annum ($970 per week).

Each unit consists of 2 bedrooms, 1 bathroom, dine in kitchen and comfortable lounge space, with separate yards and assigned carports providing undercover parking.

On the Draper Street side built approximately 1960s, the south facing entry to each unit is sheltered by a veranda along the full length of the property. Inside, the carpeted lounge includes reverse cycle air conditioning to comfort the space all year round, with carpeted bedrooms adjoining, one with built in wardrobes. The kitchen takes in north facing light in a bright and neutral space with an eat in dining area, with electric cooking and ample storage. Wet areas include a bathroom with walk in shower, toilet and vanity, with additional storage in the passage, and laundry facility at the back entry (which is enclosed in unit 1). Outside, each unit has their own enclosed yard space providing security and privacy, or could be suitable for small pets.

With a north facing aspect overlooking rural views, the Francis Terrace West units built approximately 1980's also includes a full-length veranda along the front of the building, with a more modern aesthetic and solid construction throughout. Similar in its features, each unit provides a carpeted lounge on entry with reverse cycle air conditioning, adjoined by a kitchen with electric cooking. The two bedrooms are larger than their original counterparts, whilst wet areas include a walk in shower, vanity and convenience of a separate toilet, and each unit includes enclosed laundry facilities. Separate enclosed yard spaces and assigned carports are also available for each unit.

All six units are currently on a single title with shared water meter, and are currently tenanted with information provided below.

Draper Street:
Unit 1 - $160 per week - fixed to Jan 2025
Unit 2 - $155 per week - fixed to Oct 2024
Unit 3 - $155 per week - fixed to July 2024

Francis Tce West:
Unit 1 - $165 per week - fixed to Oct 2024
Unit 2 - $170 per week - fixed to Feb 2025
Unit 3 - $165 per week - fixed to Nov 2024

A fantastic addition to any rental portfolio, with industry growth and investment at the local mill nearby along with close proximity to the regional hub of Mount Gambier providing further employment and retail options. Regional South Australia has shown excellent growth and forecasting even greater opportunities ahead - secure your interest and don't miss out, contact Alistair for more information today.

RLA - 291953
Additional Property Information:
Approx Property Age:
Draper St units - approx. 1960
Francis Tce units - approx. 1980
Land Size: 2023sqm
Council Rates: $430 per quarter per unit

Explore the area

School catchments

Nangwarry Primary School Primary R-6 Government 9.6km
Kalangadoo Primary School Primary R-6 Government 11.1km
Mil Lel Primary School Primary R-6 Government 17.5km
Glencoe Central Primary School Primary R-6 Government 18.4km
Suttontown Primary School Primary R-6 Government 19.2km
Compton Primary School Primary R-6 Government 20.4km
Mulga Street Primary School Primary R-6 Government 20.9km
OneSchool Global SA - Mount Gambier Campus Combined Independent 21.3km
Mount Gambier North Primary School Primary R-6 Government 21.3km
St Martins Lutheran College Combined R-12 Independent 21.7km
McDonald Park School Primary R-6 Government 22.3km
Mount Gambier High School Secondary 7-12 Government 22.5km
Tenison Woods College Combined R-12 Catholic 22.8km
Reidy Park Primary School Primary R-6 Government 23.3km
Melaleuca Park Primary School Primary R-6 Government 24.0km
Glenburnie Primary School Primary R-6 Government 24.6km
Grant High School Secondary 7-12 Government 24.6km
Penola High School Secondary 7-12 Government 28.3km
Millicent High School Secondary 7-12 Government 38.7km
Allendale East Area School Combined R-12 Government 42.6km
Casterton Secondary College Secondary 7-12 Government 52.3km
Kangaroo Inn Area School Combined R-12 Government 58.2km
Sunrise Christian School Naracoorte Combined R-9 Independent 73.7km
Naracoorte High School Secondary 7-12 Government 75.5km
Edenhope College Combined Prep-12 Government 79.5km
Lucindale Area School Combined R-12 Government 82.6km
Heywood District Secondary College Secondary 7-12 Government 91.6km

Nearest schools, measured in a straight line from the property. Provided as a guide only; check catchment and enrolment eligibility with the school. School data © ACARA, licensed under CC BY 4.0.

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