51 Mill Street

Auction Sat 26 May at 11AM


Property Features

Property ID: 3282114

Land Size
1294.00 m2

Substantial Offering in Blue Chip Position with 3 Residences

Extremely impressive and incomparable in its uniqueness, is this architecturally designed property, situated in one of the most exclusive areas in popular Kennington.

- Outstanding residential or investment flexibility is on offer with 51, 51A and 51B Mill Street, being offered to the market as a whole on one Title - measuring 1294m2 in land size.
- Spacious and well-designed brick veneer residence comprises 4 bedrooms, study, 2 bathrooms, kitchen/meals, large lounge and beautiful in-ground pool.
- There are two one bedroom, fully furnished studio apartments that each comprise a living room, bedroom, kitchen and bathroom facilities.
- The property has a history of returning $1030 (approx 7.5% return) per week in total.
- Imagine living in this blue chip position, utilising the residence as a home and achieving up to $600 per week (combined) for the two studio apartments. Alternatively it's a perfect option to utilise the studios as accommodation for teenagers or elderly family members.

The property has only exchanged hands once in the past, so a rare opportunity presents itself to become only the third owners of this adaptable residence, which provides a lifestyle that's reminiscent of living in a holiday house permanently.