22 Murray StreetColac VIC 3250
Property Details for 22 Murray St, Colac
Last Listing description (February 2024)
Presenting an exceptional chance to acquire a valuable freehold property on Murray Street. This historical two-story commercial residential building combines a versatile retail space and a comfortable residence, making it a unique and attractive investment prospect.
The ground floor boasts a well-lit commercial shop area of 100 sqms at the front, recently upgraded with brand-new flooring and a split system for heating and cooling. It also includes a fully equipped commercial kitchen, a spacious lounge area with a cozy gas log heater, two storage spaces, and a convenient downstairs toilet.
Ascending to the upper level, you'll find a well-appointed kitchen, three bedrooms, and a bathroom complete with a shower over the bath. The entire property is kept warm and inviting with gas heating.
The exterior of the property is just as impressive, with a securely fenced backyard. It features a lined lock-up garage/storage shed and a generously sized carport providing direct access to the shop. Private access to the property is conveniently located off Bromfield Street, enhancing its accessibility and convenience.
This property is a must-see for discerning buyers, offering an ideal opportunity for property investors or those looking to diversify their self-managed superannuation fund. Currently leased until May 2024, with an additional one-year option in the existing lease, the property generates a steady income of $1926 per month, making this investment even more appealing. Don't miss out on this exceptional chance to secure a promising investment in a prime location.
Please note the sale pertains exclusively to the building only. Take a Break is not for sale.
Please call to book your private inspection.
*All information about the property has been provided to Richardson Real Estate by third parties. Richardson Real Estate has not verified the information and does not warrant its accuracy or completeness. Parties should make and rely on their own enquiries in relation to this property.
Property History for 22 Murray St, Colac, VIC 3250
- 24 Nov 2023Sold for $540,000
- 27 Oct 2023Listed for Sale Not Disclosed
- 31 Oct 2019Listed for Rent $300 / week
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0About Colac 3250
The size of Colac is approximately 37.5 square kilometres. It has 20 parks covering nearly 2.3% of total area. The population of Colac in 2011 was 8,696 people. By 2016 the population was 9,066 showing a population growth of 4.3% in the area during that time. The predominant age group in Colac is 20-29 years. Households in Colac are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Colac work in a labourer occupation. In 2011, 67.4% of the homes in Colac were owner-occupied compared with 66.6% in 2016.
Colac has 5,510 properties. Over the last 5 years, Houses in Colac have seen a 42.29% increase in median value, while Units have seen a 28.04% increase. As at 31 October 2024:
- The median value for Houses in Colac is $441,147 while the median value for Units is $368,492.
- Houses have a median rent of $440 while Units have a median rent of $365.
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