Outstanding opportunity of wealth creation and convenient location

This property boasts location as it is located 4 minutes' drive to Bendigo City Center. Within 10 minutes' walk and you can enjoy all that Lake Weeroona Park has to offer. A short 2 minutes' stroll to O'keefe rail trail and Weeroona Oval. Those with kids will appreciate the great location of Weeroona College and childcare center. This property is situated in the Midland highway with heaps of traffic passing by. It is in a residential zone, and it has council approval to run certain businesses.

Great income:
Currently, the property is leasing to an excellent tenant at a great rental of $28,171.2 including GST per annum. The tenant is also paying the outgoings including the city council rate and building insurance. The tenant is living in the property and running a home based business (massage shop) under city council permit.
There is a vacant shed/studio at the back which was rented out to a cleaning company for $9,152 including GST per annum. You can continue to rent it out to maximise the rental income or turn it into a granny flat (STCA).

Potentials and opportunities:
This property is sitting in an approx. 720 m2 corner block, which offers the investor or developer the profitable opportunity to subdivide the land into half (STCA). The rear block of land will have its own access from Baden St. You can keep the current tenants in the existing house for receiving the rent and then sell the rear block. You can also build a house on it or build 2 townhouses. You can find the sale history online that a block of 720m2 land in 284 Napier St. was sold for approx. $770,000, and a 300m2 vacant land in 318 Napier St was sold for $320,000. The property offers 6 rooms, kitchen, shower, and toilet facilities. The inside has been nicely upgraded like the wall painting, flooring, etc. The gas hot water was recently replaced, it also has a new electric cook burner, and an oven was installed. It is also ideal for a buyer who is thinking of setting up a beauty, medical, viet, office business or even home business etc. in the future. You can also turn it into a residential living or change it as a short-term rooming house. The opportunity is endless.

Please contact Jacky Zheng 0468 870 611 for a private inspection.

All information about the property has been provided to Ray White by third parties. Ray White has not verified the information and does not warrant its accuracy or completeness. Parties should make and rely on their own enquiries in relation to the property.

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Explore the area

School catchments

Weeroona College Bendigo Secondary 7-12 Government 0.27km
White Hills Primary School Primary Prep-6 Government 1.6km
St Kilian's School Primary Prep-6 Catholic 1.8km
Holy Rosary School Primary Prep-6 Catholic 2.2km
Bendigo Senior Secondary College Secondary 10-12 Government 2.2km
St Peter's School Primary Prep-6 Catholic 2.2km
Camp Hill Primary School Primary Prep-6 Government 2.4km
SEDA College (Victoria) - Multi Bendigo Secondary Independent 2.5km
Bendigo Senior Secondary College-Netschool Campus Secondary Government 2.5km
Catherine McAuley College Secondary 7-12 Catholic 2.6km
Lightning Reef Primary School Primary Prep-6 Government 2.6km
Crusoe 7-10 Secondary College Bendigo Teaching Unit Secondary Government 2.8km
St Therese's School Primary Prep-6 Catholic 2.8km
Kennington Primary School Primary Prep-6 Government 3.2km
Girton Grammar School Combined Prep-12 Independent 3.2km
Kennington Primary School-Bendigo Deaf Facility Primary Government 3.3km
Girton Grammar School - Junior School Combined Independent 3.3km
Bendigo Primary School Primary Prep-6 Government 3.4km
Creek Street Christian College Combined Prep-12 Independent 3.6km
St Joseph's School Primary Prep-6 Catholic 3.6km
Bendigo South East 7-10 Secondary College Secondary 7-10 Government 3.9km
Eaglehawk Secondary College Secondary 7-10 Government 3.9km
Quarry Hill Primary School Primary Prep-6 Government 4.1km
Victory Christian College Combined Prep-12 Independent 4.8km
Catherine McAuley College - Coolock Campus Secondary Catholic 4.9km
Marist College Bendigo Combined Prep-12 Catholic 6.9km
OneSchool Global Vic - Bendigo Centre Combined Independent 7.6km

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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