54 Fitzgerald Street, Geraldton WA 6530

21 Unit Complex - Securely Leased to WA State Government

Oscar D'Souza Real Estate is proud to present and outstanding income producing investment opportunity in the bustling Midwest Township of Geraldton. Geraldton itself is located on Western Australia's coast, approximately 420km north of Perth.

The investment opportunity comprises 21 fully furnished, fully renovated residential units constructed over two levels, located on a Green Title allotment of 2,022 m². The property is on the fringe of the Geraldton City Centre, and literally metres from the Indian Ocean and Geraldton Port.

The property in its entirety is currently leased to a WA State Government tenant – WACHS (WA Country Health Service), at a current gross annual income of $573,300 per annum.

Lease Tenure/Structure – each of the 21 residential units have an individual residential lease agreement for 2 years, a single landlord and single tenant (WACHS) for each unit. The lease commenced 15th April 2025 for a 2-year term, expiring 14th April 2027. The current rental reflects $525 per week per unit, on a fully furnished basis. The current tenant has expressed an interest in a lease renewal for a further 2-year term after expiry, or potentially a 5-year term.

The units themselves consist of 2 'studio' apartments, 18 one-bedroom units, and 1 two-bedroom unit. The unit building was originally constructed in the 1960's, however has undergone and extensive and thorough renovation both internally and externally, to provide the outstanding standard of residential accommodation that exists today. Each unit is fitted with quality fixtures and fittings internally, has split system reverse cycle air-conditioning units, and is FULLY FURNISHED with quality appliances and furniture.

This investment opportunity has a wide variety of future uses – the property can continue as a 'passive investment' with a long-term lease to a WA State Government tenant. Alternatively, under the current zoning ("Regional Centre"), there are Short Stay Apartment options for the property also. As a further option, a large organisation/business such as a Mining Company may use the property as a residential housing base for its labour force.

There are so many opportunities for this apartment site, and because of its PRIME LOCATION in proximity to the City Centre, Indian Ocean and Geraldton Port, there is no question this opportunity will be highly sought after.

Geraldton has been a highly sought after investment region over recent years for several reasons. It is situated on the coast of Western Australia, only 420km north of Perth and located south of the Pilbara Mining Powerhouse which is integral to the WA economy. There are several large-scale infrastructure projects in both planning and development phases for Geraldton, including the Oakajee Deepwater Port facility, the Oakajee Industrial Estate, and the Global SKA Radio Telescope project. The local Geraldton economy is dominated by fishing, farming and mining industries, however, is a large regional economy in its own rite with approximately 43,000 residents who call this outstanding part of WA home.

This investment property opportunity is For Sale via "Expressions of Interest" closing 30th July 2026 – please contact the Exclusive Selling Agent, Oscar D'Souza, on the below details for further discussion and Information Memorandum.

?? 0419 929 383
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