1 Raye StreetTolland NSW 2650
Property Details for 1 Raye St, Tolland
1 Raye St, Tolland is a 7 bedroom, 4 bathroom Unit with 4 parking spaces and was built in 1975. The property has a land size of 803m2 and floor size of 156m2. While the property is not currently for sale or for rent, it was last sold in December 2025. There are other 7 bedroom Unit sold in Tolland in the last 12 months.
Last Listing description (September 2026)
38 Raye Street presents a compelling opportunity to secure four income-producing units in a sought-after Wagga Wagga location, with subdivision work already commenced and limited remaining steps required to complete the process, subject to council approval and buyer verification.
Rather than starting from a blank DA or an undeveloped concept, purchasers are stepping into an opportunity where the four existing units are already generating rental income, while the pathway towards strata subdivision has progressed. This provides greater flexibility for an investor looking to hold, refinance, or potentially sell individual units separately in the future, subject to the relevant approvals and requirements.
The property comprises three well maintained two-bedroom, one-bathroom units plus a one-bedroom, one-bathroom residence. All four units are currently tenanted, with leases ranging from $320 to $340 per week, providing an immediate and consistent income stream from settlement.
Each residence features a modern, recently upgraded kitchen, helping maintain tenant appeal while minimising immediate capital expenditure. There are four off-street parking spaces. Water compliance has been achieved, and party and fire wall compliance has also been achieved. Electrical compliance remains outstanding and will need to be completed by the buyer if they wish to proceed with the subdivision. The bathrooms remain original but are tidy and functional, providing further scope for future improvements and value adding.
Importantly, the property is already positioned for the next stage of its potential. Strata subdivision work has commenced, with limited remaining steps to complete, subject to council requirements and purchaser due diligence. For an astute investor, this means acquiring four established rental incomes today, with the potential for increased flexibility around the asset structure and future exit strategies.
Whether the strategy is to continue holding the property as a high-yielding residential investment, explore refinancing opportunities following subdivision, or investigate the potential for individual unit sales, 38 Raye Street offers multiple avenues for future value creation.
With recent maintenance completed and no significant immediate works required beyond routine care, the opportunity is ready for its next owner.
Positioned close to local amenities, parks, schools and established services, this is an opportunity to secure a four-unit residential asset with income already in place and subdivision work already underway.
The income is here. The work has commenced. The next stage is within reach.
Information Memorandum available on request.
Property History for 1 Raye St, Tolland, NSW 2650
- 23 Jul 2026Listed for Sale $1,150,000 - $1,250,000
- 05 Dec 2025Sold for $800,000
- 04 Apr 2025Listed for Sale $890,000 - $930,000
Recent sales nearby
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About Tolland 2650
The size of Tolland is approximately 2.0 square kilometres. There are 4 parks, covering nearly 11.9% of the total area. The population of Tolland in 2016 was 3357 people. By 2021 the population was 3459 showing a population growth of 3.0% in the area during that time. The predominant age group in Tolland is 0-9 years. Households in Tolland are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Tolland work in a labourer occupation.In 2021, 54.20% of the homes in Tolland were owner-occupied compared with 51.60% in 2016.
Tolland has 1,698 properties. Over the last 5 years, Houses in Tolland have seen a 100.19% increase in median value, while Units have seen a 110.71% increase. As at 31 August 2026:
- The median value for Houses in Tolland is $629,817 while the median value for Units is $422,607.
- Houses have a median rent of $500 while Units have a median rent of $350.
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