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Overview
61 Mirrabooka Road, Lake Heights
An exceptional opportunity awaits investors looking to acquire a well-established dual-income property with significant potential for growth. Located on a spacious block, 61 Mirrabooka Road currently features two distinct 2-bedroom units, one situated upstairs and the other downstairs, both of which are currently leased to long-term tenants.
The existing leases have expired, and the rental rates have not been adjusted for some time, providing immediate opportunities for rental increases and enhanced returns.
What truly sets this property apart is the potential for further development at the rear of the lot. Subject to council approval (STCA), there is the possibility to construct a 2-bedroom granny flat, which would enable the creation of three separate income streams from a single parcel of land. This strategy is increasingly popular among investors aiming to achieve yields that exceed the local market average.
Key Features:
- Two self-contained 2-bedroom units (one upstairs and one downstairs)
- Dual income property with long-term tenants
- Expired leases allowing for rental review
- Granny flat potential (STCA) at the rear
- Opportunity to create three incomes on one block
- Ideal for investors seeking value-add and strong future yield
Properties that offer this combination of existing income and clear development potential are becoming increasingly rare in the local market. For investors looking to enhance cash flow and generate stronger returns, this is an opportunity that merits serious consideration.
Change History
| Headline | When |
|---|---|
| Price Guide | $1,000,000 | |
| Price Guide | $1,050,000 |
Location
Lake Heights
