Lot 966 The Painters Road, Coober Pedy, SA 5723

Lot 966 The Painters Road, Coober Pedy, SA 5723 A Unique Business Opportunity - DUGOUTS in Opel Country

Phone enquiry code for this property : 0162

Realise your dreams of owning a property that is so unique and hard to find. A town in the middle of Australia surrounded by dessert and bush land. Plus a possibility of striking it rich in Opals.

Coober Pedy is such a place, hot in the summer and mild in the winter but always a constant temperature underground. This means no need for heating or aircon, saving you a fortune.

In January 2013 a $20 trillion find of shale oil was discovered in the area around Coober Pedy by Linc Energy. But as yet nothing has been developed but the possibility is still there.

I have a property that I\'ve had for years, consisting of 2 separate underground dugouts.

Unit 1 has 2 bedrooms, 1 bathroom and a combined Lounge/ Dining room and kitchen.

Unit 2 is the bigger one consisting of 3 bedrooms, 1 bathroom and combined Lounge and Dining plus kitchen.

Both have small fenced yards with car ports.

Set in a very quiet area a 2 minutes drive to the town center. The property used to be an old Opal mine and during excavations to increase the size of unit 2 some opals were discovered.

We used to live in unit 1 and pay the mortgage from the rent from unit 2 and really enjoyed our time there, the people are so friendly and out of season the town is so quiet. During the tourist season then population triples so there is ample opportunity for a tourist type venture there.

But our family is in Queensland so we have moved and now have an agent that manages the property renting out both units for us. Unit 1 rents for $210 per week and Unit 2 for $200.

You basically you have 3 options:-

1. You could join them together and have a large 5 bedroom, 2 Bathroom dugout with 2 separate areas of combined Lounge/Dining/Kitchen. ( This could be a business opportunity advertising this as a short term holiday home )

2. Live in one and pay the mortgage with the rent from the other

3. Rent both for a weekly income of $410

Rates are $1,118.80 per unit per year which includes water access charges, and natural Resources Management Levy.

Asking price is just $249,900 for a return of $21,120 per year.

An excellent investment by any standard, and a great place to escape the Corona Virus!

Phone enquiry code for this property : 0162