7 Carthew Street
Mount Gambier, SA 5290

This property at 7 Carthew Street, Mount Gambier, offers an exceptional investment opportunity with multiple income streams and flexible tenancy arrangements. It has been comprehensively updated to provide strong returns and is positioned in a convenient and established location close to schools, shopping centers, and the heart of Mount Gambier.

The main residence features comfortable accommodation with updated interiors and practical living spaces. It is currently configured for shared accommodation, with beds in all rooms. One single room is vacant, offering immediate leasing potential for new investors.

A notable highlight is the fully self-contained granny flat located at the front side of the home. Recently renovated, this granny flat includes its own kitchen, bathroom, and private living facilities, making it an ideal additional income stream or a dual-living setup.

The property is offered fully furnished, including beds, quilts, bed linen, desks, televisions, towels, and most kitchen appliances. This setup provides a genuine walk-in, walk-out investment opportunity. Existing tenants are in place, allowing investors to benefit from immediate holding income from settlement.

Set on a generous allotment of approximately 824 square meters, the property also offers excellent side access, ample parking, and additional outdoor space suitable for vehicles, trailers, or recreational equipment.

Investment Highlights:

• Multiple established income streams
• Renovated self-contained granny flat with kitchen and bathroom
• Flexible lease arrangements currently in place, including 3-month and 6-month terms
• Fully furnished investment opportunity
• Existing tenants in place
• Strong gross rental return
• Ideal set-and-forget investment or future owner-occupier opportunity

Current Rental Income:

Main Residence – Private Leases (Class 1B):

• Large Room - $230 per week
• Middle Room - $220 per week
• Small Room - $200 per week
• Living Room Accommodation - Currently utilised as additional rental accommodation

Self-Contained Granny Flat:

• $320 per week

Total Combined Rental Income:

• $970 per week

Indicative Return:

With a current listing price range of $599,000 to $609,000, the property presents an attractive gross rental yield for investors seeking strong cash flow potential in today's market, with an approximate gross rental yield of 8.28% at $609,000.

Lease Structure:

The current tenancy agreements include a mixture of flexible 3-month and 6-month lease terms, providing investors with adaptability and future flexibility moving forward.

Properties offering diversified income streams, renovated presentation, and dual-living flexibility continue to attract strong investor attention, particularly throughout regional South Australia where rental demand remains strong and vacancy rates remain tight.

This is a rare opportunity to secure an immediately income-producing asset with excellent versatility and long-term appeal.

For further insight, an owner renovation video is available at: https://youtu.be/i1u_mCnQTu8?si=knC8QYDMDy8BKhgk

Additional property details and features include:

• Property Type: House
• Bedrooms: 4
• Bathrooms: 2
• Toilets: 2