FOR SALE
$1,600,000

1 To 6/42-44 Lockwood Road
Kangaroo Flat VIC 3555

Bedrooms: 6
Bathrooms: 6
Car spaces: 6
Land area: 3278m2
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Exceptional Investment Opportunity - 6 Units on One Title with Future Development Potential

Exceptional Investment Opportunity – 6 Units on One Title with Future Development Potential
A rare and highly lucrative investment opportunity, this property offers six one-bedroom units on a substantial 3,278m² block, with the potential to build an additional six units on-site (STCA).
Key Investment Highlights:
- 6 well-maintained, renovated one-bedroom units – all featuring updated kitchens, bathrooms, and laundries.
- Generous 3,278m² landholding – ample space for an additional six units (STCA), enhancing future returns.
- Strong rental demand – all units are tenanted, currently yielding rental incomes of $200, $280, $230, $250, $280, and $230 per unit.
- Significant rental upside – long-term tenancies have resulted in below-market rents, offering scope for increased yields.
- General Residential Zoning – Ideal for future development, government consideration, or social housing initiatives.
Secure Long-Term Tenants & High Yield Potential
The complex is home to reliable, long-term tenants who are keen to remain, ensuring a stable income stream for investors. With rental demand in Bendigo and Kangaroo Flat at record highs and near-zero vacancy rates, this property offers strong capital growth and income security.
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Property Details for 1 To 6/42-44 Lockwood Rd, Kangaroo Flat

1 To 6/42-44 Lockwood Rd, Kangaroo Flat is a 6 bedroom, 6 bathroom BlockOfUnits with 6 parking spaces. The property has a land size of 3278m2. The place is currently for sale with Gavin Butler Real Estate .

Building Type
BlockOfUnits
Land Size
3278m2

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About Kangaroo Flat 3555

The size of Kangaroo Flat is approximately 18.4 square kilometres. It has 27 parks covering nearly 40.1% of total area. The population of Kangaroo Flat in 2011 was 9,492 people. By 2016 the population was 10,405 showing a population growth of 9.6% in the area during that time. The predominant age group in Kangaroo Flat is 20-29 years. Households in Kangaroo Flat are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Kangaroo Flat work in a labourer occupation. In 2011, 67.3% of the homes in Kangaroo Flat were owner-occupied compared with 67.4% in 2016.

Kangaroo Flat has 6,238 properties. Over the last 5 years, Houses in Kangaroo Flat have seen a 49.79% increase in median value, while Units have seen a 47.04% increase. As at 28 February 2025:

  • The median value for Houses in Kangaroo Flat is $520,954 while the median value for Units is $348,157.
  • Houses have a median rent of $460 while Units have a median rent of $395.
There are currently 48 properties listed for sale, and 10 properties listed for rent in Kangaroo flat on OnTheHouse. According to CoreLogic's data, 252 properties were sold in the past 12 months in Kangaroo flat.

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Gavin Butler
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Gavin Butler Real Estate
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