601 Ripon Street
Redan, VIC 3350

Overview

601 Ripon St South

Located in a sought-after pocket of Redan, this property presents a unique opportunity beyond a charming three-bedroom residence. It includes an approved permit to subdivide the land into two separate two-bedroom homes, offering significant development potential and future value enhancement.

The existing front house is currently leased to a dependable long-term tenant, ensuring immediate and consistent rental income. This feature makes the property an attractive investment, providing a strong return from the outset while allowing time to plan and execute the subdivision.

The home itself is solidly built and spacious, comprising three generously sized bedrooms. The kitchen is functional and equipped with a 600mm gas cooktop and electric oven, ideal for everyday cooking needs. A separate lounge area benefits from split system heating and cooling, ensuring comfort throughout the year.

At the rear of the property, there is a full laundry with a second toilet, adding to the convenience of the home. The enclosed backyard features established lawns, storage sheds, and facilities suitable for pets such as dogs or chickens, offering excellent outdoor space and hobby options.

With the subdivision permit already secured, this property is particularly suited to investors aiming to capitalize on the increasing demand for quality housing in the Redan area. The potential to develop two additional homes on the block not only promises long-term capital growth but also maximizes rental income opportunities.

All of these benefits are complemented by the property's prime location, just minutes from Ballarat's central business district, local shops, supermarkets, and a short drive to the shopping precinct in Sebastopol. This makes it an unbeatable location for tenants and future homeowners alike.

601 Ripon Street South represents a rare chance to acquire a property that delivers stable income now, alongside exciting development prospects for the future.

Location