Phone enquiries – please quote property ID 37930.
A rare opportunity to acquire four high quality apartments on one title in central Castlemaine. The four units are currently used for short-stay accommodation, generating approx. $300,000 per annum in revenue.
Positioned on a well-connected street just moments from Castlemaine’s cafes, galleries, and train station, the property offers scale, flexibility, and strong income performance in one of regional Victoria’s most vibrant towns.
Endless Options
This versatile property offers a range of pathways for the astute buyer. Continue operating all four apartments as short-stay accommodation and enjoy strong, consistent returns. Alternatively, pivot to long-term leasing for stable passive income with minimal turnover. For those seeking a lifestyle shift, move into one apartment and let the remaining three generate income—ideal for semi-retirement, multi-generational living, or a live-and-earn model.
The Apartments
Set amongst established gardens and native greenery, each apartment offers a peaceful retreat with generous proportions and thoughtful design:
• Three x 3-bedroom apartments, each featuring expansive open-plan living, kitchen, and dining zones, two bathrooms, and excellent natural light and flow
• One x 4-bedroom apartment, ideal for families or group bookings, with three bathrooms, flexible layout, and elevated outlooks.
All four apartments are well-appointed and designed for comfort, with full kitchens, private entries, and contemporary finishes. Each unit includes a double garage plus an additional carport, providing secure parking and added convenience for guests or long-stay tenants.
The interiors are light-filled and inviting, with sun-drenched balconies, gas log fires, and leafy outlooks that enhance the sense of retreat. Kitchens blend heritage charm with modern functionality—including premium appliances like Falcon cookers—while living areas are styled for relaxation, complete with smart TVs, Wi-Fi, and curated furnishings.
The property can be sold fully furnished or unfurnished, offering flexibility for investors seeking a turnkey solution or owner-occupiers looking to customise.
Investment Highlights
• Approx. $300,000 annual income from short-term bookings
• Can be professionally managed with strong occupancy and repeat guest history
• Zoned residential with potential for uplift, and long-term leasing
• Secure off-street parking for all units
• Low-maintenance landscaping and infrastructure
• Walkable to Castlemaine’s cultural, culinary, and transport hubs
Lifestyle & Location
Johnstone Street offers excellent access to Castlemaine’s commercial and arts precinct, with strong appeal for tourists, professionals, and lifestyle seekers. The property’s layout and zoning support a range of future uses—from continued short-stay operation to multi-generational living or strategic redevelopment.
Whether you’re seeking a high-yield investment, a lifestyle asset with income, or a foothold in a tightly held regional market, 6 Johnstone Street delivers.
Inspections by appointment. Financials available on request.
DISCLAIMER While proudly assisting home owners to sell since 1999, No Agent Property takes every care to verify the accuracy of the details in this advertisement, but the correctness cannot be guaranteed.
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