16 Gilbert Street, Hackett, ACT 2602

House 4 2 3
Sold Price: 895,000 (07 May 2019)
Cash Flow Positive Investment For Less Than The Price of the Land
This property has a main residence plus self-contained flat both rented to fantastic tenants with a combined rental income of $845/week.

Unusually for a property with such a good rental return, all the value of this property is in the prime Inner North land it occupies. The block is just over 800m2, flat, north facing and across the road from a park on one of Hackett's most prestigious streets.

The home features four bedrooms, two living areas and two bathrooms and has the flexibility of a three bedroom residence with attached self-contained one bedroom flat or a four bedroom ensuite home with two living areas. This gives the choice of extra rental return of approximately $8,000 in the dual income configuration or a single family home with broad appeal.

Gilbert St is a quiet tree lined loop with no through traffic and is just a 5 minute walk to the Hackett shops and the Mt Majura Nature Reserve. This is one of the largest blocks on the street and boasts a UCV of $650,000. Another bonus is that the block exceeds the critical 800m2 threshold. This means a dual occupancy is currently permitted and could potentially be unit titled in the future pending the likely outcome of the ACT's Housing Choices Project which could dramatically boost value.

The main residence features a north facing living area, a large modern kitchen and nothing to do except move in and enjoy. The existing flat is separately metered and has a large bedroom and updated bathroom. The property also includes landscaped gardens, an enormous backyard, a garage and off street parking for multiple cars.

As an investment, this property ticks all the boxes. A prime location, a large proportion of value in the land, a history of strong capital growth with more recently forecast and significant infrastructure upgrades occurring within the Inner North.

This property is priced for quick sale. Directly across the road, a 3 bedroom, 1 bathroom home on a smaller block sold recently for $910,000. Also on the street, is a vacant block of 676m2 for sale at $780,000. The same per m2 rate would put the land value of this property at $923,000.

Get in contact today to secure this text book investment.

Entertainment Area, Garden Shed, Air Conditioning

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