Size: 636m² approx.

23 Hallam Street Units 1-12 Quarry Hill

Property Overview

Property ID: 1P12106
Property Type: Hotel/Leisure
Land Size: 1412m² approx.
Building Size: 636m²
Carport: 12
Construction: Brick

Auction -

Sat, 18th Aug 2018, 12:00 PM

Venue: On Site [ Save Date/Time | Get Directions ]

Inspection Times

  • As Advertised or by Appointment
Features:
  • Built-In Wardrobes
  • Close to Transport
  • Close to Shops
  • Close to Schools
  • Car Parking - Surface
  • Gas Heating

Agents

COMPLEX OF 12 TWO BEDROOM UNITS ON SEPARATE TITLES

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 coming on the market.
This proven solid and secure investment has been extremely well maintained and has experienced consistent and strong rental returns since its construction in 1978. The apartments are currently let for between $195pw and $210pw, with a current return of $124,280.00pa. 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 and require no further subdivision to be syndicated and 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 and an office/storage room.

Terms: 10% deposit - balance 60 days.

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