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73-77 Witt Street, Benalla VIC 3672

$990,000

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$990k - $1.04M Transparent Transparent Listing Based on an openly advertised listing price.

House 10 Beds 4 Baths 4049 m²

Listed: 4 days ago

Updated: 9 hours ago

Overview

This versatile property located at 73-77 Witt Street, Benalla, offers a unique blend of residential investment potential combined with industrial zoning flexibility, making it a rare find in a growing region. The large land parcel of over 4,000 square meters provides ample space for existing usage or future development, appealing to investors or businesses looking to capitalize on easy access and commercial opportunities.

Currently generating a strong annual return of approximately $70,000 from four separate tenancies, the property’s income stream demonstrates its viability for investors prioritizing cash flow. Its strategic corner position allows excellent accessibility, and there is additional land that may be available, enhancing options for expansion or reconfiguration.

Positioned close to the rapidly developing Amberfields Estate, it benefits from proximity to new residential communities which may elevate demand and value.
Walking distance to local shops, transport services, and town amenities provides convenience, enhancing attractiveness to tenants or future occupants.

This property suits investors seeking a steady income with the flexibility to explore commercial-industrial developments. The substantial land holding and location dynamics offer a platform for diverse uses, warranting consideration for those looking to secure a substantial asset in Benalla.

Local Market Insights

In Benalla, Quiet Listings observed 17 new houses entering the market over the last 30 days, down from 24 during the previous 30-day period, with an average advertised asking price of $789,588. The property type mix of listed properties is predominantly Houses at 81%, followed by units (10%), and land (5%). The most active agency for houses in the Benalla area is currently Ray White, representing 59% of new listings, followed by Living Here Benalla with 29%. 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.