Real Estate

Five homes for the cost of one

Written by The ReReport
As seen in the Source link, written by on 2019-01-03 19:20:19

This home is a masterclass in how to side hustle like a champion — with a main house, three cottages, council approval to build more, and four possible streams of income.

The sprawling 5.43 hectare property at 20-342 Neptune Street, Maryborough, currently has six bedrooms spread across five homes with six bathrooms and parking for seven vehicles.

Agent Nigel Dwyer of Sprake Real Estate Maryborough listed it as being one that could have “income to support your retirement or tree change lifestyle”.

“Occupy the main residence and improve the property further to prosper or just enjoy the simple lifestyle it presents currently with the bonus of a secure passive income received with rental of the three cottages and main residence.”

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The main house has two bedrooms, with each of the three one-bedroom cottages offered furnished and the property also has a separate one bedroom unit that was “currently used by overseas owners during home visits”.

The cottages were currently fetching an average $220 a week in rental, according to Mr Dwyer, with the main home averaging $370.

It has a massive 1 hectare dam which was currently used for irrigation and lake-style “water activities and relaxation”.

Another income stream has been explored with preliminary approval for 50 recreational vehicle (RV) sites to capitalise on short stay tourism in the region.

A further possibility, given the already-available accommodation offering, was to play host to country weddings. The property has a small chapel by the water and a large 14m by 14m barn that could be converted for wedding receptions.

Then there are the fenced paddocks that could be rented out to farmers for large animal agistment.

Or if you really don’t want to side hustle yet, the property was “perfect” for joint occupancy with extended family members, he said, with more than enough land to also have “cows, chooks and gardens”.