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Two Homes in One: Huge Investment Potential!Property ID 1565681SOLD BY DENNIS LIM 0488 488 360 - RAY WHITE CROYDON
This much loved property on a 1,189sqm block offers two homes under the one roof with separate gas, electricity and water meters - located on a quiet, family friendly court offers investors or large and extended families an exceptional dual living opportunity or the option to open up the floor plan to create one impressive large home.
In the front discover a traditional period home with a wide entry, four bedrooms - the main with built in robes, a light filled lounge, spacious kitchen, family bathroom, laundry (with shower for optional second bathroom) and a second separate toilet. A wall heater, cooling units and ceiling fans provide heating and cooling all year round.
At the back, an extension provides opportunity with it's own private external access to a zone comprising two large bedrooms both with air-conditioning, a study, open plan living and second kitchen area, a bathroom with space for a laundry. With both dwellings accessing the charming and ample backyard via a joint patio there is opportunity to either share the space or divide it for separate living.
Out the side, discover a double carport with entrance to a large workshop and an additional separate off street parking space at the front for easy access to the first dwelling.
Recently re-stumped with concrete stumps, freshly painted exterior and recently maintained roof, the whole home is structurally sound, ready to live in and full of potential for updating internally for renting with potential to rent out both the front and back, or live in the front and have a tenant assist you in paying off the mortgage!
Rent out the front home for around $400pw and then the back for around $300pw, and you could be looking at close to a 5% investment return. This is virtually unheard of in today's market in this area!!!
Walking distance to Ruskin Primary School, Brentwood Park Kindergarten and close to other primary and secondary schools, Croydon and Mooroolbark shops and stations, restaurants and recreational facilities and a quick drive to Eastlink.