Olinda 26 Olinda Monbulk Road

Comprised of 6 separately metered units in 4 discrete dwellings, this unique offering 0n 3008m approx is sited less than 200m from all the amenities of a bustling Olinda township. With an ongoing history as a multiple income rental property, this complex, presented in various states of repair, represents an ideal purchase for the savvy investor with the vision to maximise income potential via a targeted renovation and improvement strategy.

The Buildings: Main residence: Units 3, 4 and 6

A classic hills home circa 1920 has been restumped and substantially rewired and features considerable original features. Divided into 2 self-contained upstairs units with gas heating and discrete bathroom, kitchen and laundry facilities. A third 1 bed unit with bathroom and kitchen is located below the dwelling previously rented but needs attention.

Unit 1 : Self-contained and standalone 2 bed unit with gas heating, bathroom, kitchen and laundry facilities. Currently tenanted.

Unit 2: Self-contained and standalone 1 bed unit dwelling with bathroom and kitchen facilities which need attention.

Unit 5 : Fully renovated and standalone self-contained 1 bed dwelling with gas heating, bathroom and kitchen facilities, ready for a tenant to move into.

The Land: Accessed by an in and out slipway, with ample parking and privacy from the roadway, the sloping block retains the foundations of a significant garden and pathway system ripe for landscape enhancement.

The Location: Located just moments’ walk from Olinda township, swimming pool, sporting facilities, bus connections and landmark Botanical Gardens, Bonny Dell is beautifully sited as a rental and or BnB property. Additionally, Monbulk’s terrific facilities can be assessed with ease. These include bus service, specialty stores and both Woolworths and Aldi supermarkets along with sporting clubs, Monbulk Primary School, Monbulk College, Silvan Reservoir and renowned nurseries.

The options and opportunities are endless. Convert the main dwelling to one historic home with three BnB cottages or fixed term rental properties. Ideally suit multi generation families or multi family living. Or continue its current use leasing the apartments and receive a strong three figure return.

A great opportunity for the buyer that has the energy, not afraid of a bit of hard work and appreciates the opportunity to add capital value, all the while collecting a rental return.

Offered by way of Auction on the 7 December 2024 at 3.30pm, Bonny Dell represents a unique opportunity to mix challenge and opportunity to reap the reward. Only inspection will suffice to determine your interest.

Multi Unit investment opportunity on 3008m 200m from Olinda Township and amenity Services include Power & Gas (separately metered), water connection and NBN availability Extensive off-street parking 3,000m approx of old gardens