2/6 Kirkpatrick Street, Katherine South NT 0850

Updated two-bedroom unit | renovated throughout | tenanted until mid-2025 | quiet four-unit complex near CBD | This unit offers a rare combination of immediate rental income and a recently refreshed interior, making it a low-friction entry for an investor seeking a turnkey holding in Katherine’s tightening rental market. The 226 sqm block is generous for a unit, providing a private courtyard and side access that are uncommon in this price tier, while the undercover parking for two cars adds practical appeal for a future owner-occupier. The fully air-conditioned layout and secure storeroom reduce ongoing maintenance demands, and the location within walking distance of shops and the hot springs supports steady tenant interest. The tenancy at $420 per week until July 2025 locks in cash flow but caps vacancy risk only until that date; a buyer must plan for either re-leasing at market rates or occupying after expiry. The quiet four-unit complex limits body corporate exposure, though no strata report is available in current data, so due diligence on sinking fund and management is essential. The price is above the nearby 1/6 Kirkpatrick Street valuation, which reflects the renovation premium, but without comparable sales data on this specific unit the margin of safety is unclear. Hold for rental yield or convert to a low-maintenance owner-occupied home after the lease ends.