I am thrilled to present an exceptional opportunity for potential buyers to acquire this property at its land value. This offering not only allows for immediate cash flow but also presents various options for future development.
Current Rental Income
The property generates a reliable rental income of $78,000 per annum from both dwellings, ensuring a steady cash flow for investors. Established tenants have occupied the property for the past 15 years, reflecting its stability and desirability. Buyers can choose to hold the property as-is, continue renting, or explore renovation options to enhance value.
Land Size - Boasting a generous land size of 1,138 sq m, this property provides ample space for future development and possibilities.
Current Valuations - Land Value: $2,600,000 and Capital Value: $3,100,000
Property Configuration - The main dwelling features four spacious bedrooms along with a separate dining room, ideal for family living. Additionally, there is a secondary dwelling, a two-bedroom flat, offering further rental income or accommodation options.
Development Potential - While the property is situated on a unique site (down and drive, up on a hill), there have been successful developments in similar locations. With the recent changes in planning regulations, there could be an exciting opportunity to explore the potential of the land for subdivision or further development.
This proposal highlights the incredible potential for buyers to acquire a property that combines immediate returns with future possibilities.
Call to arrange a viewing.