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Overview
Set on an expansive 1,036 square metre elevated block with a northern aspect, this property offers a versatile living and investment opportunity that caters to a variety of needs. Its substantial land size provides the flexibility for future development (subject to council approval), making it ideal for those looking to add value or expand their living space.
The main residence, a well-maintained four-bedroom brick home, boasts a blend of modern updates and classic comfort. The fully enclosed sunroom and adjoining outdoor patio capitalize on the northerly views, creating inviting spaces for relaxation and entertaining that overlook lush parkland and the Merri River. The home’s enclosed rear yard adds a private outdoor area, enhancing family-friendly functionality and security.
Below the main house is a thoughtfully designed one-bedroom unit with its own separate entrance, situated at the rear of the large garage and storage space. This unit not only complements the property's dual-income potential but also suits extended family living arrangements, such as accommodating elderly parents or adult children seeking independence while remaining close. Both the house and unit are currently tenanted, contributing to an estimated combined rental return of around $900 per week, equating to an attractive 5.5% annual yield.
Strategically positioned in a sought-after inner-north Warrnambool locale, the property benefits from proximity to key amenities including the Centro Shopping Centre, schools, Aquazone aquatic centre, Botanic Gardens, the CBD, and recreational walking trails along Russells Creek and the Merri River. This accessibility enhances everyday convenience whether you're a family, investor or downsizer.
With its mixture of spacious living, dual tenancy options, and development scope, this quality brick residence presents a notable proposition for investors and owner-occupiers considering multi-generational living or future growth possibilities. The manageable aspect and neighborhood location further secure its appeal in the local market.
Local Market Insights
In Warrnambool, Quiet Listings observed 49 new houses entering the market over the last 30 days, up from 40 during the previous 30-day period, with an average advertised asking price of $733,047. The property type mix of listed properties is predominantly Houses at 74%, followed by land (8%), and commercial properties (8%). Ray White was the most active agency in this area, representing 32.7% of all new listings in the last 30 days. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Warrnambool VIC 3280
Market Insights for Warrnambool VIC 3280
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