38 Lambrigg Street, Farrer, ACT 2607 - More Details
$1,550,000
Renovated Mortgage Smasher or Turn-Key Investment in Farrer (potential 4.70% Yield!)
Rarely does an opportunity arise that perfectly satisfies both the head and the heart. Set in the highly sought-after and leafy suburb of Farrer, this unique property offers a completely renovated four-bedroom family home alongside a pristine, fully self-contained studio under. With all the hard work already done, you can simply move in or rent it out from day one.
Whether you are an astute investor chasing a robust, turn-key potential dual-income return, a family needing separate accommodation for extended relatives, or a savvy homebuyer wanting to live in a premium suburb while a tenant helps pay off the mortgage-this property delivers on all fronts.
For the Savvy Home Buyer: Live Large, Pay Less, Nothing to Do
Breaking into a premium Woden Valley suburb like Farrer usually comes with a hefty mortgage, but this property changes the rules. Move your family into the immaculately updated four-bedroom main residence and rent out the studio for potential $450 per week approx. - previously rented at $350 per week, prior to the renovations. That's $23,400 a year in passive income going straight towards paying down your home loan faster! Because both dwellings have been completely renovated, you won't have to spend a cent on repairs or updates. Alternatively, keep the pristine studio for grandparents, older teenagers, or a private home office.
For the Investor: A Dual-Income Powerhouse
Finding a property with two separate, established rental streams is incredibly rare-finding one that has just undergone a comprehensive renovation is the ultimate jackpot. Farrer has long been a staple of consistent long-term growth, and this turn-key asset ensures premium tenant appeal and potential maximum depreciation benefits.
Main Residence: potential rent $950 per week (prior to renovations rent was $800 a week)
Residence 1: The Main Family Home - potentially $950 a week
Designed for comfortable, modern family living, the primary dwelling is expansive, entirely private from the studio, and freshly painted throughout.
Four generous Bedrooms: Freshly painted and spacious, featuring a master suite complete with a modern ensuite.
Living & Entertaining: Boasting two separate, light-filled living areas alongside an open-plan dining space.
Gourmet Kitchen: A completely remodelled central kitchen showcasing beautiful stone bench tops and brand-new cabinetry.
Secure Parking: 2-car garage with automatic doors, providing secure, weather-proof access and extra storage space.
Studio: potential rent $450 a week (prior to renovations was $350 a week)
Residence 2: The separate studio - potentially $450 a week
Completely separate, private, and fully modernised, this is not just a room-it's a true independent dwelling that will attract the highest quality tenants.
Self-Contained Living: Features its own private entrance, brand-new flooring throughout, a modern kitchenette, and an immaculately renovated full bathroom.
Privacy: Strategically positioned to ensure both dwellings enjoy their own space, peace, and quiet without stepping on each other's toes.
Combined rent for the two dwellings - (approx. only)
Total Weekly Income: $1,400
Total Annual Income: $72,800
Gross Rental Yield: 4.70%
Separately Metered: Complete peace of mind with fully separate water and electricity meters for each dwelling, making utility splitting or tenant billing entirely hassle-free.
The Farrer Lifestyle
Farrer offers a premier lifestyle with incredibly strong owner-occupier demand. You or your tenants will love being just a short walk to the Farrer Nature Play & Adventure Trail, the local Farrer shops, and top-tier local schools. Plus, you are just minutes away from the major shopping, dining, and transport hub of Westfield Woden.
Properties with this kind of verified dual-income yield, fresh high-end renovations, and lifestyle flexibility do not sit on the market for long.
features.
.renovated four bedroom three bathroom home (home and studio)
.separate downstairs studio
.arranged over two levels with elevated views
.north facing
.combination of timber look floors and carpet
.north facing living room with RC split system and glass doors opening to the front veranda
.formal dining room with easy connection to the kitchen
.open kitchen and second living area
.renovated kitchen with white cabinetry and granite bench tops
.direct access to the rear patio and garden
.ducted gas heating upstairs
.studio with RC split system and sliding doors opening to the north
.all three renovated bathrooms with floor to ceiling tiled finishes
.double garage with twin automatic doors and additional storage space
Finer details (all approx.)
EER: 1.5
Living area: 224m2
Land Size: 686m2
Built in: 1967
Land Value: $700,000
Rates: 4,241 approx. per annum
Disclaimer: The information contained in this advertisement is derived from sources we deem reliable. However, we cannot provide any guarantees or warranties regarding the information supplied. Any references to rates, land tax or other statutory charges are indicative only and have been calculated in good faith using publicly available information. Some images may have been virtually styled for marketing and illustrative purposes only. Buye
- Type
- House
- Bedrooms
- 5
- Bathrooms
- 3
- Parkings
- 2
