Let us be frank. This is an old house divided into 2 units on a large block which could be further expanded. However, ignore the expansion prospects for now and look at the ROI. The units are now empty because they were being freshened up. Each unit would attract $140 per week. That is a return of $280 per week, or $14,560 per annum. Take out expenses of about $4,500 per annum and you have a return of 5.4% nett return. These returns will vary dependent on the price you pay for it, the rate of rent variations, expenses rising and falling, etc.
Now, about the building itself. One unit offers 3 bedrooms, kitchen, lounge/dining, separate toilet and a bathroom. The other unit offers 2 bedrooms with an L shaped lounge, eat-in kitchen, shower and toilet together, and a sunny nook. Both units share the laundry underneath the back of the house. There is quite a bit of furniture available too, if you want to rent it furnished. There is a variety of beds, plus dining tables and chairs, lounges, washing machine, TV’s, etc.
Now you can start thinking about expanding with further units.