7.5% Return in Mornington – $830,000 Firm
Originally a butcher’s shop, over the years this dwelling has been converted into three flats. Two of the tenants have lived here for over 34 years and 22 years respectively, which is testimony to the property. The rent on the three flats and the separate garage is currently $1200.00 per week
All three flats are in excellent condition with neutral décor throughout. They have modern kitchens and bathrooms, there is a heat pump, they are double glazed and are compliant with insulation regulations. Each has a carpark.
The first flat (upstairs right-hand side from the street front) has two double bedrooms both with built-in wardrobes. The master bedroom has a view out over the area and toward the ocean. Living is open plan and all the windows let in plenty of natural light.
Flat A (upstairs left-hand side from the street front) has had new carpet installed. Off the spacious kitchen/dining area is either a separate living room or the second bedroom.
Flat B (downstairs) has open plan living. The main bedroom is a double and the second is a child’s room, both have built-in wardrobes. This flat has its own lovely fenced section.
Additionally, there is a large storage/workshop area under the house. The separate 10 x 3.3m garage is currently rented.
The location is so convenient, one of the reasons the tenants enjoy living here. The school, supermarket, bakery, cafés, and other amenities of Mornington are within walking distance. Alternatively you could live in one and rent the other two flats out – helps pay off the mortgage!
This is an impressive, well-looked after property. We highly recommend viewing.
Price: $830,000 firm