1 Raye Street

Tolland NSW 2650

38 Raye Street presents a rare opportunity to secure a high yielding residential asset in a sought after Wagga Wagga locale. Comprising four separate units on a generous block, this property is perfectly suited for astute investors and savvy developers seeking future growth and flexible strategies. The complex offers three well maintained two bedroom, one bathroom units, plus a single bedroom, single bathroom residence. Each unit features a modern, newly upgraded kitchen, ensuring ongoing tenant appeal and minimal immediate outlay. All units are currently tenanted with leases ranging from $320-$340 per week, providing solid and consistent rental income from day one. With a total of four off street parking spaces and water main compliance already achieved, the property also boasts in progress electrical upgrades for further peace of mind. While the bathrooms remain original, their tidy condition offers scope for future value adding improvements. This block sits on one title with potential for strata subdivision (STCA), allowing purchasers to explore options for individual resale or continue as a set and forget investment. Recent maintenance ensures the property is easy to manage, with no significant works required beyond routine care. This is an exceptional opportunity to add a quality asset to your portfolio in a high demand rental location, just moments from local amenities, parks, and schools.