Newtown 158 Hansen St

$$$ 2-FLAT NEWTOWN INVESTMENT $$$
Situated on a private site among lots of mature trees, your tenants will enjoy the extremely convenient location, the privacy, the sun, and the peace of living among their own private glen of mature trees.

Hanson St offers a super convenient location - close to central Newtown and the city - whilst also being quiet (especially given this property in particular is nicely set back from the road). This site is rather special, with an abundance of mature trees and a small stream - create your own private magic garden! Upstairs is a 3 bedroom flat (in my view this could be utilised as a 4 bedroom flat) that is horribly under-rented for $300pw on a periodic tenancy since 2007. Downstairs is a 2 bedroom flat currently vacant. The entire property would benefit enormously from a total makeover, which would produce significant rental upside. The large site includes a generous garden in the front, which may possibly present an opportunity for further development - subject to local authority and building act requirements of course. RV $550,000
There are several options here:
1. leave it as is and bring the rents to proper market levels. You will never struggle to find tenants in this location.
2. undertake renovations to maximise the rents, hence creating additional equity and cash-flow.
3. explore the potential to possibly build a new dwelling in the garden, for even more upside (please note: I am not certain this is possible - buyers are advised to conduct their own investigations and research).

There is work to be done here, with upside to go with it. Come check it out at an open home, or give me a call for more information.

Property Information

• Floor area approx 150sqm