105 Hubert Street, East Victoria Park WA 6101

Full Block of 8 Leased Apartments with Re-Zoning P

NUMEROUS OFFERS - MORE PROPERTIES WANTED! Rare opportunity to purchase an entire complex, of all 8 one bedroom apartments, fully leased and generating strong cash flows. Plus the underlying 1012sqm block, with a right of way at the rear, and the added bonus of city views. Currently zoned R40, there is a proposed future re-zoning of this site up to 5 levels.

Perfectly located just one street back from Albany Hwy, just a short walk to shops, cafes and restaurants, this is a very popular lifestyle location and is always be highly sought after by tenants.

* Outstanding investment opportunity.
* Fully leased generating strong reliable cash flows.
* Stable mix of mostly long term tenants.
* 8 one bedroom, one bathroom apartments.
* Each unit is already strata titled, giving the new owner additional flexibility.
* Mix of renovated (3), partly renovated (1) and un-renovated (4) apartments.
* Scope exists to easily add value value with basic internal renovations.
* Well maintained complex and grounds.
* Long history as a solid well maintained building.
* Popular lifestyle location, short walk to shops, cafes and restaurants.
* Lots of off street parking, more than one bay per unit.
* Walk to bus stops.
* Right of way at the rear, adding to future development options.
* 1012sqm block, currently zoned R40.
* The Town of Victoria Park has proposed re-zoning this site to up to 5 levels, under their Shape Albany Hwy planning project.
* Plot ratio bonuses are also proposed.

Currently returning approximately $173,000 per annum, which increases to approximately $178,000 in March 2025, and further later in the year. We believe the potential exists to increase the rent return further with some internal renovations, and/or some improvements around the complex.

This is a generational investment, the type of property that investors rarely sell. Will be a very reliable income producing asset for many years to come.
You won’t fault the location, the potential, or the opportunity. This deserves your immediate attention and action.

PLEASE NOTE:
* Internal photos shown are a sample of one renovated unit only, not of all units. Additional internal photos of other units, and further information is available on request.

INSPECTIONS:
* Please do not approach the units, or walk around the complex, without our prior permission.
* Inspections can be arranged with suitable prior notice, by appointment only, with the exclusive selling agent.

OFFERS INVITED:
* Offers will be considered for all 8 units together in one line - as one contract, to purchase all 8 units together.
* Offers are invited by: 4pm (AWST) on Monday 24th February 2025.
* The seller reserves the right to accept an offer prior to this date, or to bring forward this closing date; both without prior notice.

All enquires too:
Russell White 0419 903 598. [email protected]

Property Code: 1191