1-4/1 Adelaide Street, Flora Hill, Vic 3550

Step straight into a fully renovated, ready-made investment. This unique property features four freshly updated two-bedroom units. It's an attractive proposition for both seasoned and new investors.  Set on one large title, the units are being sold as a whole, however the option to strata title and value add is an option for the future.

All entrances front quiet Adelaide Street, which is just south of the Flora Hill shopping hub. At the end of the no-through road is a community playground, and direct access to the beautiful Spring Gully trail. This favourite of walkers and cyclists links to the local sports grounds, hotel and primary school, under a big leafy canopy. It's no wonder the units are solidly let.

Behind a deep frontage and four undercover car spaces, four bright front doors welcome your tenants home.  There are two separate buildings on the lot; each features 2 x mirror-image two-bedroom units.  The vendor has invested heavily over the last few years to deliver the as-new interiors.

Consider, all new vinyl plank flooring and carpets, new window furnishings, new split system heating and cooling units, new kitchens and bathrooms – all freshly repainted.  In cool, contemporary tones of grey-and-white, the designs are looking sharp. 

The spacious kitchens are a real surprise, and feature an under-bench oven, electric cooktop and rangehood, dishwasher and pantry. They also incorporate a clever laundry space.  The bathrooms are likewise fresh and modern. The bedrooms have mirrored built-in-robes and fans.

Outside, the rendered exteriors have freshly-painted walls and eaves. Colourbond fences separate each backyard into a neat, low-maintenance and private space.

The property currently has a total weekly rental return of $1410 ($73,320 annually) which represents a gross return of close to 5.5%. This, coupled with the excellent location near La Trobe University, and recent work, means you get an easy-to-choose addition to the portfolio.

Unit 1 - $350 per week - leased until August 2025
Unit 2 - $360 per week - leased until August 2025
Unit 3 - $350 per week - leased until February 2025
Unit 4 - $350 per week - leased until February 2026