1 - 4/9 Stafford Street, Herne Hill, Vic 3218 - More Details
$1,619,000
**Inspections available from August 14**
Presenting a rare opportunity to secure a rental compliant, updated, fully tenanted four-unit investment on one title in the heart of Herne Hill. Over the past 12 months the current owner has invested heavily in bringing this solid brick, tiled-roof block up to and beyond rental minimum standards — meaning the hard work is done and the next owner simply steps in and reaps the rewards.
Set on approximately 841m², all four units have been freshly painted throughout and now feature open-plan kitchen and dining areas, with new flooring to the dining spaces, and generous living areas fitted with new carpet, new split-system air conditioning and new roller blinds. Bedrooms are great sized with full height built-in robes, roller blinds and new carpet, while every unit benefits from a new gas instantaneous hot water service & split system heating/cooling. Unit 2 goes a step further again with a brand-new kitchen — new cabinetry, new appliances and new vinyl flooring.
Undercover carports for each unit & a caretakers WC are located at the rear of the block, and the communal green space is a lovely spot for residents to relax and get their vitamin D fix.
Gutters, downpipes & electricity meters have been replaced across the whole building, and the low-maintenance gardens are kept neat & tidy with a gardener attending once a month.
Herne Hill has become one of Geelong's most sought-after residential pockets — and Stafford Street is an established, tree-lined street just minutes from Geelong CBD with easy access to schools, parks, shopping and the Ring Road. Recent performance has seen Herne Hill house prices recording double-digit growth over the past 12 months alone, as buyer demand continues to outstrip a tight supply of listings. For investors, it's this combination of affordability, lifestyle and strong recent growth that keeps Herne Hill firmly on the radar.
With all four units securely leased, the block returns a combined annual income of $80,860 — an impressive 5% yield for a strong, dependable cash flow from day one. Beyond the current returns, the property also offers exciting scope for future value-add: there is potential to add another dwelling in the open space at the rear or separate the titles (both STCA), update and sell the individual units — a clear pathway for an astute investor to unlock further upside.
Advertising Photos were taken just prior to tenants moving in in June 2025, and a video walkthrough of the properties will be available shortly.
This is a genuinely low-maintenance, cash-flow-positive investment with all the heavy lifting already done. Now it's simply a case of holding, improving at your leisure, and watching your investment grow.
All information provided by Real Estate Geelong (REG) in relation to this property, including but not limited to income, dimensions, condition and works undertaken, has been provided to us by the vendor and/or obtained from sources we believe to be reliable. It is provided in good faith and to the best of our knowledge, but its accuracy cannot be guaranteed. REG accepts no responsibility or liability for any error, omission or inaccuracy in the information provided. Prospective purchasers should make their own independent enquiries and satisfy themselves as to the accuracy of all information before proceeding.
- Type
- Block Of Units
- Bedrooms
- 5
- Bathrooms
- 4
- Parkings
- 4
- Area
- 841 m²
