29/1 Spencer Street

Suburban Investment Opportunity- 12 x Unit Block

Rare opportunities like this don't come around often.
Held in the same ownership for 22 years, this exceptional investment property delivers circa $236,000 in gross annual income and offers the stability investors seek.
Comprising 12 well-designed units, 8 x one bedroom and 4 x 2 bedroom. The property enjoys low tenancy turnover and a strong base of long-term tenants, attracted by its peaceful atmosphere and sense of community in a quiet suburban street, tucked up a driveway.
Architecturally designed and built in 1975 for the Methodist Mission, the complex was purpose-built for quality living. Today, it continues to attract quiet, respectful tenants, predominantly older residents who value privacy, sunshine, and a calm lifestyle.
Set on a generous 2,822 flat site, the property offers easy access to all units, 9 off-street car parks, and future potential to add more parking if required.
Located in a highly sought-after suburb, this is an investment where one and two bedroom units are always in demand, especially in a quiet, community-focused setting like this.
All units are Healthy Homes compliant and well maintained with excellent natural light throughout.
This is a rare, tightly held asset offering strong returns, proven longevity, and future upside.
Secure a premium investment with income, stability, and long-term appeal and be only the third owner in 50 years.

Please contact the agent to arrange a time to view.

Unless sold prior by private treaty.