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Two homes - One title - Gross rental income of $80,000 per yr
Welcome to 18 Marine Terrace Sorrento. This is a truly unique property and special opportunity for someone that recognises a quality piece of coastal real estate only 200 metres from our stunning Perth coastline and the Marmion Angling Club.
Two homes are located on the block on one title with their own individual street frontages. One into Marine Terrace and the other into the lane behind. The combined rental income on these properties at present is $1,555 per week. That’s $80,860 per year. That rental value is on fixed term leases.
What you will love...
Whether you are an investor, an owner looking for a great lifestyle, someone that wants to create a future for their retirement (or maybe you are already retired) or simply a family that has a tribe to accommodate; this 711 square metres (zoned R20/25) of coastal land features a proposition that is hard to ignore.
If you wanted to live in one of the properties and AirBNB the other the per night rental income would be higher and present a sensational means of paying your mortgage whilst living in this excellent location.
Take your pick.
* Live on one and rent the other.
* Rent out both.
* Move the entire family in. Grandparents, kids returning home, melded families. The choice is yours.
The options are endless but the opportunity to secure something like this is genuinely rare.
The original home faces into Marine Terrace and features a renovated and extended funky property that consists of 3 bedrooms, 3 bathrooms and two living zones. Modern clean lines combine with 1960's warmth of character.
If you like something a little quirky and different this ones for you. This property is rented at $860 per week until 26th April 2024.
The second home is just under three years old and is a Hamptons inspired 1 bedroom, 2 bathroom townhouse that has such a great vibe. This property is rented at $695 per week until 11th July 2024.
Both homes have a distinct coastal vibe and feel to them. Living here is all about a coastal lifestyle of relaxation.
What to know...
The block of 711sqm is zoned R20/25 and has a frontage to Marine Terrace and frontage to the lane behind. This provides you yet another good reason to look at this property. IF in the future you decide you would like to completely rebuild and build two substantial new homes there is absolutely the capacity to do so.
Note: All potential re zoning and development options are subject to Council and WA Planning approvals and a buyers should make their own investigations.
Who to talk to...
For further details please call Ian Masterson on 0402 311 370 or email me on [email protected]
Property features
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Garages
2
Property snapshot by reiwa.com
This property at 18 Marine Terrace, Sorrento is a four bedroom, five bathroom house sold by Ian Masterson at Realmark North Coastal on 22 Dec 2023.
Looking to buy a similar property in the area? View other four bedroom properties for sale in Sorrento or see other recently sold properties in Sorrento.
Nearby schools
Sorrento overview
Sorrento is an established outer-northern suburb of Perth admired for its coastal lifestyle. Bound by the Indian Ocean to the west, Sorrento is four square kilometres in size. Though settlement of Sorrento dates from the mid 1800s, rapid development and growth didn't occur until the 1970s. Growth continued through till the early 1990s and has remained relatively stable since the mid 1990s.
Life in Sorrento
Residents of Sorrento enjoy the desirable position of being close to major urban developments while still removed enough to soak up the benefits of suburban living. Relaxed and laid back, Sorrento features a number of parks and walkways for locals to explore and has access to two beaches. Seacrest Village Shopping Centre services the suburbs basic commercial requirements and there are two local schools.
Sorrento quick stats
High end
$1.9m
Median
$1.4m
Low end
$1.2m
2.5 %
Annual growth
$1.4m
Annual median sales price
$1,017pw
Annual median rental price
