OFF MARKET

1 Tumut Street
Cooma NSW 2630

Bedrooms: 14
Bathrooms: 7
Car spaces: 7
Floor area: 114m2
Land area: 868m2
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Last updated 16 Sep 2024
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Property Details for 1 Tumut St, Cooma

1 Tumut St, Cooma is a 14 bedroom, 7 bathroom Unit with 7 parking spaces. The property has a land size of 868m2 and floor size of 114m2.

Building Type
Unit
Floor Size
114m2
Land Size
868m2
Local Government
Snowy Monaro Regional
Lot/Plan
6/DP36331

Last Listing description (June 2020)

Immaculately presented, this freehold double brick residential unit complex not only offers a secure opportunity in Cooma's strong rental market but also strong future growth on current rental returns.

The complex has proven to be a strong returning investment for the current family who built the complex from the ground up but is time for them to put their feet up.


Returning 6% - 6.5% gross on the advertised guide, this property offers a very unique opportunity in this day and age where investment returns at these levels are rare. With the national significant Infrastructure projects occurring throughout the Snowy Mountains we see this an investment with major upside going forward.

Features Include:
* 7 x 2 bedroom units, bedrooms are very large with built-ins
* Large open plan kitchen/dining and lounge room with RC/AC in each unit
* Each unit has it's own outdoor laundry & undercover carport
* All 7 units are currently tenanted with the majority being long term
* Located in a quiet cul-de-sac street within close proximity to Cooma's cbd.

The long term owners have impeccably maintained this complex providing an investment with minimal ongoing maintenance costs.

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Property History for 1 Tumut St, Cooma, NSW 2630

A timeline of how this property has performed in the market
  • 31 Mar 2020
    Listed for Sale GUIDE $1,200,000 - $1,300,000

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About Cooma 2630

The size of Cooma is approximately 97.8 square kilometres. It has 16 parks covering nearly 4.2% of total area. The population of Cooma in 2011 was 6,664 people. By 2016 the population was 6,681 showing a population growth of 0.3% in the area during that time. The predominant age group in Cooma is 50-59 years. Households in Cooma are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Cooma work in a professional occupation. In 2011, 67.5% of the homes in Cooma were owner-occupied compared with 64.5% in 2016.

Cooma has 4,018 properties. Over the last 5 years, Houses in Cooma have seen a 85.11% increase in median value, while Units have seen a 33.21% increase. As at 31 August 2024:

  • The median value for Houses in Cooma is $511,677 while the median value for Units is $460,493.
  • Houses have a median rent of $500 while Units have a median rent of $320.
There are currently 52 properties listed for sale, and 22 properties listed for rent in Cooma on OnTheHouse. According to CoreLogic's data, 174 properties were sold in the past 12 months in Cooma.

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