1 Pitt StreetColac VIC 3250
Property Details for 1 Pitt St, Colac
1 Pitt St, Colac is a 8 bedroom, 4 bathroom Unit with 4 parking spaces and was built in 1960. The property has a land size of 883m2 and floor size of 128m2. While the property is not currently for sale or for rent, it was last transferred in January 2016.
Last Listing description (June 2025)
This four-unit complex in a desirable location in Colac offers a unique investment opportunity. Comprising two recently renovated units and two units in excellent condition, this property provides a blend of modern comfort and convenience.
All units are individually titled, with independent services attached to each unit. This not only adds to the value of the property but also the versatility it can offer to any portfolio.
Unit 1 stands out with its freshly renovated interior, boasting a contemporary kitchen, fresh paint, and new carpet/flooring throughout. Along with unit 2, which had a fresh coat of paint, and new carpet throughout only 2 years ago.
Each unit is thoughtfully designed with two spacious bedrooms, complete with built-in robes for ample storage. Additionally, split-system heating and cooling units ensure year-round comfort in all units.
Units 3 and 4 offer the added benefit of private backyards, perfect for outdoor relaxation and leisure. Furthermore, all units feature storage sheds located at the rear of the carports, providing extra space for residents' belongings.
This well-maintained complex north of Murray represents an attractive prospect for investors with all units currently leased, with weekly rental return between $310 -$320, return on investment of 5.9%. With two units already renovated, and the opportunity to further enhance the remaining units, there is the potential for increased rental income.
Situated close to the Colac show grounds, ALC, IGA and only a 5 minute drive or 15 minute walk to the CBD for all of your amenities, so don't miss the chance to own this versatile and promising real estate asset.
Property History for 1 Pitt St, Colac, VIC 3250
- 10 Nov 2024Listed for Sale $1,100,000
- 26 Sep 2023Listed for Sale $1,100,000
- 21 Jan 2016Transferred
Recent sales nearby
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0About Colac 3250
The size of Colac is approximately 37.5 square kilometres. It has 20 parks covering nearly 2.3% of total area. The population of Colac in 2016 was 9048 people. By 2021 the population was 9243 showing a population growth of 2.2% in the area during that time. The predominant age group in Colac is 20-29 years. Households in Colac are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Colac work in a labourer occupation.In 2021, 65.80% of the homes in Colac were owner-occupied compared with 66.60% in 2016.
Colac has 5,796 properties. Over the last 5 years, Houses in Colac have seen a 30.49% increase in median value, while Units have seen a 26.33% increase. As at 28 February 2026:
- The median value for Houses in Colac is $498,084 while the median value for Units is $379,164.
- Houses have a median rent of $480 while Units have a median rent of $390.
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