1-4/31 Johnston Street
Mentone vic 3194

A unique chance to acquire this group of 4 units offered in neat semi-original condition with individual tenancies (1 fixed term tenancy agreement and 3 periodic tenancy agreements) providing a gross return of $77,436 per annum. Providing a good mix of accommodation (1 x two bedroom floorplan, 3 x one bedrooms), this whole-group offering represents a once-in-a-lifetime opportunity to invest, reimagine, renovate, resell or rethink this significant site.

With ample scope to add value and step up to a new level with easy extension and clever conversion to two-storey townhouse accommodation (STCA). Appreciate the appeal and polish and upgrade to maximise rental return...or makeover subdivide and resell with a minimum of fuss. Alternatively, start afresh on this significant site with multiple all-new home designed to meet the market for prestige beachside living on the edge of the retail and rail strip (Subject to Council Approval).

Whatever the plan, this multi-dwelling opportunity has multiple lifestyle benefits superbly positioned in close proximity to all amenities including Thrift Park Shopping Centre, Mentone Village shops, cafes, restaurants, Southland, Mentone Train Station, Mentone Primary School, Mentone Girls and Cheltenham Secondary Schools, Mentone Grammar School, St.Bede's College, picturesque reserves and Bayside's most popular beaches.

For more information about this one-off multi-home opportunity contact Michael Care on 0432 488 939 or Donna Brient on 0403 195 226 today.

Comprising:

● Unsubdivided

● 4 Original Villas (Villa 1 - 2 bedroom, Villas 2, 3 & 4 - 1 bedroom)

● Ample scope to redevelop (STCA)

● Total land size: 641m2

● Current gross income: $77,436 per annum