5 Joami Street Cheltenham, VIC 3192

Unlock a rare opportunity with this versatile double brick property on a generous 672sqm (approx.) corner block in a quiet cul-de-sac. Ideal for investors or developers, it currently returns $2,700 per week ($140,400-$160,000 per year) through fully leased formal agreements - letting you earn income while you plan your next move.

The property hosts nine individual rooms. Upstairs features 7 with a shared bathroom, and a large kitchen/dining area with cooking appliances and laundry facilities. The entire lower level is a self-contained two-bedroom residence with living/dining, kitchen/laundry, and a bright bathroom - perfect for ongoing rental returns.

With low-maintenance outdoor spaces, alfresco access from some rooms, ample storage, double + single garage, and substantial onsite parking, the property is set for comfort and convenience.

Takeover ownership and decide your path:

-Continue the current arrangement and enjoy immediate income.

-Modify into a stylish family home.

-Clear the site and build up to three townhouses (STCA), with wide frontage and holding costs already covered by the existing rental income.

-Just moments to bus stops, Franks Café, Le Page Primary School, Cheltenham Secondary College, and Southland Shopping Centre - this sought-after location balances lifestyle, income, and future growth.

Property Details:

-Land: 672m² / 0.17 acres

-Parking: Double + single garage, plus 2 off-street spaces

PLEASE NOTE:

• Every precaution has been taken to establish the accuracy of the above information but does not constitute any representation by the vendor or agent.
• Photo ID required at all open for inspections