Bought Well • Prime Investment Opportunity with Strong Growth Potential
Eastern Heights has become a hotspot for astute local investors, and this recent property acquisition highlights why the area is thriving. Secured for $740,000, this 3-bedroom, 2-bathroom house on a generous 715m² lot offers immediate returns and promising future growth. Here’s a closer look at why this property is a standout investment.
The Property at a Glance
Location: Eastern Heights
Property Size: 715m²
House Size: 3 bedrooms, 2 bathrooms, 2-car garage
Purchase Price: $740,000
Yield: 4.4%
Development Potential: Subdivision and granny flat conversion
Why Eastern Heights?
Eastern Heights has proven to be a solid investment hub, evidenced by its impressive 10-year annualised growth rate of 15.15%. Such steady capital growth, paired with a remarkably low rental vacancy rate of just 0.60%, makes the area an attractive destination for investors seeking stability and opportunity.
Low Maintenance with Immediate Rental Income
This property is perfect for investors looking for low-maintenance investments. Recently renovated, it offers a 4.4% rental yield, providing immediate income. With the area’s strong rental demand, maintaining high occupancy rates should be a breeze, contributing to consistent cash flow.
Future Development Potential: Unlocking Value
Beyond the current yield, this property’s long-term potential lies in its future development opportunities. With a 715m² block and development precedents already established in the area, the potential for subdivision could unlock significant future value.
Moreover, the property includes a separate studio, which can be converted into a self-contained granny flat. This addition could generate additional rental income, appealing to a broader pool of tenants and boosting the property’s overall yield.
Why This Property Stands Out
High Growth Potential: Eastern Heights’ long-term growth rate of 15.15% outpaces many other suburbs, making it an ideal investment for those seeking capital appreciation.
Low Vacancy Rates: At just 0.60%, the suburb’s vacancy rate is one of the lowest in the region, offering security to landlords.
Future Development Opportunities: The ability to subdivide the property or convert the existing studio into a granny flat creates multiple streams of income, enhancing both immediate returns and long-term value.
This property in Eastern Heights is a savvy investment, offering a combination of strong capital growth, immediate rental yield, and future development potential. It’s a low-maintenance, high-reward opportunity that will continue to appreciate in value while generating steady income. For local investors, this is a prime example of why Eastern Heights remains a top choice for property investment.
