8/227-229 Wade AvenueMildura VIC 3500
Property Details for 8/227-229 Wade Ave, Mildura
8/227-229 Wade Ave, Mildura is a 1 bedroom, 1 bathroom Unit with 1 parking spaces. The property has a land size of 1839m2 and floor size of 1840m2.
Last Listing description (August 2012)
WHERE DO YOU FIND 8 UNITS TOGETHER?
This is the investment opportunity of a lifetime. On two titles, offering 1840 sqm of land consisting of 8 x 1 bedroom units all currently tenanted and with a total income of some $875 per week or $45,500 per annum.
Perfectly positioned within easy walking distance to shops, public transport and the city centre. Ideally suited to low income tenants these units require little ongoing maintenance and have proven to be an outstanding investment over a long period of time with full occupancy year after year.
SOME ADDITIONAL INFORMATION
Please find below some further information relating to these units which may be of help.
The property 227 ??? 229 Wade Avenue is on two titles of freehold land. Each title enjoys approx. 18m frontage x 50m depth and are freehold.
There is no body corporate in place given you enjoy 100% owner ship.
Lower Murray Water charges are $1180.00 per quarter given that each unit is rated separately and given that each unit is not metered separately the water usage is to be paid by the landlord. Last quarter???s usage was approx. $150.00.
Mildura Rural City Council rates are currently $4760.95 in total over both titles
There are several rental increases in the pipeline and are as follows:
Unit 1 ??? stay at $105.00
Unit 2 - $110.00 increasing to $120.00 (18.9.12)
Unit 3 - $110.00 increasing to $120.00 (18.9.12)
Unit 4 - $110.00 increasing to $130.00 (18.9.12)
Unit 5 - $110.00 increasing to $120.00 (22.9.12)
Unit 6 ??? vacant asking $110.00 per week. We are processing several applications at the present with a new tenant imminent
Unit 7 - $110.00 increasing to $130.00 (21.9.12)
Unit 8 - $110.00 increasing to $130.00 (20.9.12)
Several investors have asked ???what issues do we have there??? and to be honest very little. We have the odd overcrowding issue whereby we find more people living in the unit than have been approved but nothing we can???t handle. Rent is always paid on time or thereabouts and in fact we have never had to issue VCAT proceedings for rent arrears (over 14 days).
The units are in average condition and to be honest don???t need any improvement as the type of tenant we are aiming at their condition is fine. These units are rarely vacant and are generally occupied by new Australians or single men. Many of tenants don???t have a motor car so car parking is not an issue although each unit does have an allocated car park.
There are no outstanding maintenance issues currently.
To make purchasing easier we are happy to sell these units in two lots of four but contingent on each other. We don???t want to sell one lot of four and not the other.
I hope this above information is adequate for you to make an informed decision but if you have any questions please don???t hesitate to let me know.
We have been managing these units for approx 8 years and over that time they have proved to be a fantastic investment with little ongoing costs.
A copy of the Vendors disclosure statement (Section 32) can be found on our own website www.stockdaleleggo.com.au/???mildura
Property History for 8/227-229 Wade Ave, Mildura, VIC 3500
- 15 May 2013Listed for Rent - Price not available
- 19 Jul 2012Listed for Sale $465,000 - $485,000
- 20 Jun 2012Listed for Rent - Price not available
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0About Mildura 3500
The size of Mildura is approximately 77.8 square kilometres. There are 54 parks, covering nearly 4.2% of the total area. The population of Mildura in 2016 was 32738 people. By 2021 the population was 34565 showing a population growth of 5.6% in the area during that time. The predominant age group in Mildura is 30-39 years. Households in Mildura are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Mildura work in a professional occupation.In 2021, 58.60% of the homes in Mildura were owner-occupied compared with 58.10% in 2016.
Mildura has 21,017 properties. Over the last 5 years, Houses in Mildura have seen a 60.04% increase in median value, while Units have seen a 69.58% increase. As at 31 July 2026:
- The median value for Houses in Mildura is $607,849 while the median value for Units is $373,397.
- Houses have a median rent of $520 while Units have a median rent of $393.
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