Property ID: 1P2547

1-12/23 Hallam Street Quarry Hill VIC

$ 1,900,000
  • 24
  • 12
  • 12
  • Block of Units
  • Sold
  • 1412 sqm
  • 12
Looking to fund your retirement?/ A strong cash flow / Short term accommodation business?
For the first time in over 25 years, this remarkable 12 unit complex located only minutes from the Bendigo CBD in the ever sought after Quarry Hill area, is on the market. This proven solid & secure investment has been extremely well maintained & has experienced consistent & strong rental returns since its construction in 1978. The apartments are currently let for between $190 pw & $230 pw, with a current return of $126,880 pa. With all units at $210, that figure would be $131,040 pa. Alternatively, a move to motel/Airbnb style accommodation (STCA) would allow the opportunity for this income to be increased significantly. Whilst we are selling the complex as a whole, the purchaser can have comfort in the knowledge that all the units are separately titled & require no further subdivision to be syndicated & purchased in multiple entities. There is also the flexibility to sell individually in the future. The complex provides off street, under cover parking for each apartment, as well as laundry facilities, manicured gardens & an office/storage room.

Terms 10% deposit, balance 60 days
Features
  • Living Area
  • Close to Schools
  • Close to Shops
  • Close to Transport
  • Heating
  • Built-ins

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