1-2/64 Doveton Avenue
Eumemmerring, VIC 3177

Overview

We Present to You a Once in a Lifetime Opportunity!

This property presents a unique opportunity for investors or developers looking to expand their portfolio or undertake a new project. Currently, the site comprises two units on a single title, with approved plans and permits for the construction of two additional double-storey townhouses, allowing for a total of three units on the property.

Unit 1 features three bedrooms, each equipped with built-in robes, a kitchen fitted with gas appliances, a combined living and dining area, a family bathroom, gas heating, evaporative cooling, and a single garage with an additional car space. This unit currently generates a rental income of $1,651 per calendar month, equivalent to approximately $380 per week.

Unit 2 offers three bedrooms, including a master bedroom with a full ensuite and walk-in robe. The layout includes an open-plan living and dining area, a kitchen with gas cooking facilities, a family bathroom, heating and cooling systems, a double lock-up garage (which will be converted to a single garage following development), and a private backyard. This unit currently yields a rental income of $1,868 per calendar month, or about $430 per week.

The approved development plans allow for the replacement of Unit 1 with two new double-storey townhouses. The street-facing townhouse will have a separate driveway and will include three bedrooms, three bathrooms, and an open-plan study or retreat area. The second townhouse will feature three bedrooms, including a master with a full ensuite, and a double tandem garage. The rental potential for these new townhomes is estimated to be between $600 and $650 per week.

The land area is approximately 792 square meters, providing ample space for the existing units and the proposed development. The property includes two car spaces, enhancing convenience for residents.

This is an excellent chance to capitalize on a property with existing rental income and the potential for significant value addition through development. Interested parties are encouraged to consult with their builder and begin planning their next project to maximize the investment potential of this site.

Location