8 Michaels DriveAlfredton VIC 3350
Property Details for 8 Michaels Dr, Alfredton
Last Listing description (October 2023)
Land Area 3033 sqm (approx)
6 lettable spaces and additional containers all on 1 title
Separately rated and metered for power and water
This is a very unique purchase in Ballarat's heartland commercial area. With 6 sheds currently tenanted (1 by the owner), this investment offers a divested income stream. With 2 containers on site currently let out to existing tenants, the owner has built a 3 bedroom apartment above unit 1 with 3 bedrooms, 1 main bathroom, BIR's in two of the bedrooms and a WIR and ensuite for the master bedroom. The kitchen, meals and living space are open plan with a west facing balcony. Complete with a certificate of occupancy.
The owner has a waiting list of renters looking to take over space it becomes available and the vendor will stay on in unit 1 and lease it back from the purchaser for at least 6 months from settlement (at approx $500 per/week plus OG).
The yield for the investment are outstanding with outgoings paid by each tenant and the ability to re-negotiate some more attractive lease terms in the coming months/years and the chance to lease out or use the residence yourself when the owner vacates.
This is one of those rare and unique investment opportunities that will require a site inspection to appreciate. To request a copy of the contract of sale and a vendor statement with existing leases and agreements, contact Stu Brien from PRD Buninyong on 0416 183 566.
Property History for 8 Michaels Dr, Alfredton, VIC 3350
- 05 Apr 2024Sold for $1,800,000
- 26 Jun 2023Listed for Sale Contact Agent
- 13 Feb 2012Transferred
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0About Alfredton 3350
The size of Alfredton is approximately 7.9 square kilometres. It has 11 parks covering nearly 12.3% of total area. The population of Alfredton in 2011 was 7,194 people. By 2016 the population was 9,228 showing a population growth of 28.3% in the area during that time. The predominant age group in Alfredton is 10-19 years. Households in Alfredton are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Alfredton work in a professional occupation. In 2011, 75.9% of the homes in Alfredton were owner-occupied compared with 70.6% in 2016.
Alfredton has 6,151 properties. Over the last 5 years, Houses in Alfredton have seen a 29.39% increase in median value, while Units have seen a 35.44% increase. As at 31 August 2024:
- The median value for Houses in Alfredton is $638,964 while the median value for Units is $341,939.
- Houses have a median rent of $450 while Units have a median rent of $350.
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