1901 Lyell HwyDual Income Investment with Upside – One Title, Two Units, Development Potential (STCA)

Positioned in Lawitta, just minutes from New Norfolk, this is a high-performing, no-nonsense investment opportunity delivering immediate income with clear upside.

Set on a large, flat block with side access to the rear, the property comprises two self-contained two-bedroom units on a single title, both leased to long-term tenants.

• Investment Snapshot
• Current combined rent: $650 per week
• Rental appraisal: $790 per week
• Immediate upside: ~$140 per week increase
• Two dwellings, one title (no strata)
• Long-term tenants in place

This is the kind of asset investors chase but rarely find - stable income today with built-in growth tomorrow.

• Retain as-is for strong holding income
• Increase rents toward market levels
• Renovate over time to further lift returns
• Explore additional dwelling potential (STCA) at the rear

The block is the additional opportunity here - flat, accessible, and offering flexibility most dual-income properties simply don’t have.

Why Lawitta?

Lawitta continues to attract attention from investors priced out of New Norfolk, offering:

• Close proximity to New Norfolk township (shopping, schools, services)
• Strong tenant demand from the Derwent Valley region
• More land, more flexibility, and better entry pricing

You’re effectively buying into the New Norfolk market - without paying New Norfolk prices.

A must see if you’re looking for:

• Yield + growth
• Land value + development potential
• A scalable long-term hold