5-7 Pickering Street
Ouyen VIC 3490
- 4 Bed
- 1 Bath
- 1 Toilet
- 2 Parks
$320,000-$350,000
2 For The Price Of One
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.
Features
General Features
- Property Type: House
- Bedrooms: 4
- Bathrooms: 1
- Land Size: 1,108sqm
- Living Areas: 1
Indoor Features
- Toilets: 1
- Airconditioning
Outdoor Features
- Garage Spaces: 1
- Carports: 1
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