OFF MARKET

8 Grevillea Avenue
Mylestom NSW 2454

Bedrooms: 2
Bathrooms: 1
Car spaces: 3
Floor area: 46m2
Land area: 521m2
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Property Details for 8 Grevillea Ave, Mylestom

8 Grevillea Ave, Mylestom is a 2 bedroom, 1 bathroom House with 3 parking spaces and was built in 1970. The property has a land size of 521m2 and floor size of 46m2. While the property is not currently for sale or for rent, it was last sold in October 2021.

Building Type
House
Year Built
1970
Floor Size
46m2
Land Size
521m2
Local Government
Bellingen
Lot/Plan
15/DP244715

Last Listing description (May 2023)

This perfectly positioned block of three units in the Blue-Chip seaside village of Mylestom ticks all the boxes; low maintenance, high occupancy and less than 100m's walk to the pristine beach and river. The units currently generate a gross income of $37,440 per annum.

There is a new roof on the complex and all units present well. Each unit has 2 bedrooms, a modern kitchen, lounge/dining, bathroom, front courtyard, and carport. The separate laundry room provides space for private washing machines.

This property provides endless opportunities; continue as a permanent rental, holiday let, live in one unit and let the remainder or convert the property to a home, with the option of adding another storey to gain views of the stunning Bellinger River.

The gorgeous Mylestom village has and always will continue to be a popular tourist destination due to the fabulous river, beach and sea fishing, great accommodation and Caf.

Relax and have a game of bowls with the family or enjoy a meal, cold beer or wine at the popular Recreation Club.

There is minimal opportunity of vacant land becoming available, let alone with 3 easy-maintenance, income-producing units.

Other options include a great opportunity for multiple families as holiday units, or add to your superfund.

Do the sums: Interest rates are at an all-time low. Money invested in the bank is making a less than a stellar return on investment. With interest rates also at an all-time low, why not secure a loan to buy an investment that returns 4.33% plus capital growth!

We challenge you to find a better investment opportunity in this Blue-Chip seaside location.

Contact Brett or Peter today to arrange your private inspection.

Well presented block of three units
Low maintenance
High occupancy
Pristine beach & river within 100ms walk
Current gross income of $37,440 per annum
Each unit has 2 bedrooms, bathroom, modern kitchen, lounge/dining
Front courtyards and carports
Separate laundry room provides space for private washing machines
Popular tourist destination
Fabulous river, beach and sea fishing
Level walk to shop, Caf, beach and river
Permanently let average $240.00 each per week
Blue chip location - Mylestom
Great recreation facilities
Easy 15 min drive to Coffs Harbour

Property History for 8 Grevillea Ave, Mylestom, NSW 2454

A timeline of how this property has performed in the market
Last Sold
$900,000
15 Oct 2021
  • 15 Oct 2021
    Sold for $900,000
  • 21 Jul 2021
    Listed for Sale $900,000
  • 01 Jul 2021
    Listed for Sale $495,000
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About Mylestom 2454

The size of Mylestom is approximately 5.1 square kilometres. It has 2 parks. The population of Mylestom in 2011 was 337 people. By 2016 the population was 332 showing a population decline of 1.5% in the area during that time. The predominant age group in Mylestom is 50-59 years. Households in Mylestom are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mylestom work in a labourer occupation. In 2011, 67.4% of the homes in Mylestom were owner-occupied compared with 70.8% in 2016.

Mylestom has 273 properties. Over the last 5 years, Houses in Mylestom have seen a 78.85% increase in median value, while Units have seen a 57.37% increase. As at 30 September 2024:

  • The median value for Houses in Mylestom is $847,016 while the median value for Units is $592,680.
  • Houses have a median rent of $380.
There are currently 2 properties listed for sale, and no properties listed for rent in Mylestom on OnTheHouse. According to CoreLogic's data, 8 properties were sold in the past 12 months in Mylestom.

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.