OFF MARKET

5 Pickering Street
Ouyen VIC 3490

Bedrooms: 4
Bathrooms: 1
Car spaces: 2
Floor area: 126m2
Land area: 1108m2
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Last updated 11 Nov 2024
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Property Details for 5 Pickering St, Ouyen

5 Pickering St, Ouyen is a 4 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 1108m2 and floor size of 126m2.

Building Type
House
Floor Size
126m2
Land Size
1108m2
Local Government
Mildura

Last Listing description (August 2024)

Welcome to this exceptional property that combines a commercial building with main street frontage and a charming residential residence at the rear. This unique property comprises the Bank building, which is currently rented out by the NAB Bank, and a four-bedroom, one-bathroom home that was previously the bank manager's residence.

With 2 separate tenancies the property offers a steady income stream & a fixed term lease in place for the new owner.

The four-bedroom, one-bathroom home was solidly built with a spacious living area, modern kitchen, and 3 generously sized bedrooms with built-in wardrobes plus large sleep out or rumpus room.

The property offers a strong return at present which shows approximately 6.9% with a new lease entered for the bank. The combined rent of $480 per week provides a strong return and an ability to pay down a mortgage quickly. The residential home has also found suitable tenants due to a severe lack of available homes within the township.
The bank tenancy has renewed a 2 year lease with an further option of 1x1x1. paying $221 per week. The residence is currently paying $265 per week with a rent increase due in September.
Located in a prime position in the heart of a strong rural community, this property offers an incredible opportunity to secure a prime piece of real estate.

Property History for 5 Pickering St, Ouyen, VIC 3490

A timeline of how this property has performed in the market
Listed for Rent
$250/w
03 Aug 2021
  • 22 Mar 2023
    Listed for Sale $322,500.00
  • 03 Aug 2021
    Listed for Rent $250 / week
  • 10 Jul 2020
    Listed for Rent $250 / week
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About Ouyen 3490

The size of Ouyen is approximately 1,533.4 square kilometres. It has 16 parks covering nearly 11.1% of total area. The population of Ouyen in 2011 was 1,082 people. By 2016 the population was 1,195 showing a population growth of 10.4% in the area during that time. The predominant age group in Ouyen is 60-69 years. Households in Ouyen are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Ouyen work in a managers occupation. In 2011, 73.8% of the homes in Ouyen were owner-occupied compared with 75.4% in 2016.

Ouyen has 917 properties. Over the last 5 years, Houses in Ouyen have seen a 119.39% increase in median value, while Units have seen a 55.28% increase. As at 31 October 2024:

  • The median value for Houses in Ouyen is $211,129 while the median value for Units is $353,890.
  • Houses have a median rent of $320.
There are currently 14 properties listed for sale, and no properties listed for rent in Ouyen on OnTheHouse. According to CoreLogic's data, 26 properties were sold in the past 12 months in Ouyen.

Suburb Insights for Ouyen 3490

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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.