26 one-bedroom units on separate titles including carparking

A truly unique opportunity to own an entire complex of 26 one-bedroom strata titled units with accessory carpark.

Superbly located only 350 metres from Mooroolbark central shopping centre and new sky rail station and transport hub.

Comprising two well-maintained, standalone, two storey buildings on 2803m2 (approx.), with the gross income of $368,300 PA, which has potential to increase to $405,000 PA over the next 12 months when current rents come up for review. The last two units were let June and August 2023 for $300pw. The land, almost acre, is in a prime location for future development, subject to council approval (multi-storey developments are already nearby in Mitcham and Ringwood). There is also the option to sell each unit separately, as each has its own strat title.

Building one comprises 12 self-contained units consisting of six on the ground floor with private backyards and seven on the floor above with private balconies/courtyards.

Building two, built in 2011, comprises 14 self-contained units consisting of seven on the ground floor with private backyards and seven on the floor above with private balconies/courtyards.

This is an outstanding investment opportunity with an occupancy record of almost 100%, as many tenants receive government pensions/benefits. These units have a proven and very secure low risk income stream, which will give an excellent return on investment. Currently there are no body corporate fees as all units have common owners.

This is a rare opportunity, given that its only the second time these units have come on the market.