995A and B Colombo Street

Block of 2 x 2 Bedroom Flats

Seldom available in such a fantastic location. Block of 2 x 2 bedrooms units on one title. Situated on 506m² of Residential Medium Density, TC2 land These street facing units have been well maintained by its current owners.

Unit 1 has been renovated with modern kitchens with plenty of cupboards and dining area. Good quality carpets and drapes. Spacious living areas with heat pump and panel heater. Two bedrooms, large master upstairs with triple wardrobe and toilet. Smaller second bedroom downstairs. Modern bathroom with shower, vanity and toilet. Separate laundry. Shared double garage.
Unit 2 has an original but tidy wrap around kitchen, with plenty of cupboards and dining area. Good condition carpets and drapes. Good size living areas with heat pump. Two bedrooms, Master bedroom upstairs with double wardrobe and second bedroom downstairs off the dining room. Additional sunroom. Spacious bathroom with corner shower, hand basin and laundry facilities. Shared double garage.

Great holding income, Unit 1 is rented at $480.00 per week, with a rental increase to $490.00 as of 18/04/2025 on periodic tenancy. Unit 2 is rented at $410.00 per week fixed until on 30/10/2025. Total weekly income of $890.00 per week = $46,280.00 per annum.

Situated on 506m2 of prime RMD, TC2 land. Dimensions approx. street frontage 18.41m x 26.34m. Open grassed courtyards and garden area. There is a double garage at rear which is shared, plus room for off-street car parking. All EQC repairs have been completed and Insurance in place with State.

Prime location in St Albans, these units are handy to close to local amenities in St Albans and Edgeware, Merivale Mall, The Palms Shopping Centre, the CBD and Hagley Park. Zoned for Girls and Boys High School, Burnside High School, Heaton Intermediate and St Albans school.

A great opportunity to purchase a small residential block for any investor to add to their portfolio or for someone who is just starting out or would make an ideal home and income or landbank for future redevelopment.