A comfortable home packed with potential down the line! You may not be looking to become a developer overnight but this opportunity will allow you to hold a very comfortable site ripe for future development. It has always served our tenants well, close to transport, shops and is an excellent hub no matter which direction you need to travel thanks to the Legacy Way and Western Freeway. The current home is also centred on the block giving you a good buffer from your neighbours while still maintaining a usable backyard.
If the scenic route up the property ladder isn’t your thing and you’re looking for your next splitter then this could be one of the more straightforward projects you will find. Currently a single 1007m2 lot with ~25m frontage the previously approved subdivision plans provide two neat ~504m2 lots. The existing home is a four bedroom brick and timber home with lovely timber floors. Moving the existing home and building is one option but demolishing is allowed as the existing structure is post war.
We have good tenants in place currently paying $385 per week in rent until May 2020. Perfect if you’re looking at lodging plans with Council you will still enjoy passive income while those plans are approved.
Metricon are building two top end new homes only two blocks away and our neighbour to the east has a very well presented home so you’re in good company.
Our current owner has done a lot of the legwork already so for information on the subdivision including acoustic and assessment reports please give me a call. He’s motivated to sell to take advantage of an overseas investment opportunity so we’re welcoming all offers.
- Rectangular block with previous approval for a subdivision of two neat equal size lots
- Bus stop 180m away from the block (regular services to the CBD)
- Gently sloping block providing an easy build site
- Existing home is post war allowing removal
- High side of the street
- Currently tenanted at $385 per week until May 2020
- BCC rates $452.41 per quarter
- Close to Our Lady of the Rosary (OLR) and Kenmore State School
|R&H Suburb Summary||Houses|
|Number of sales||155|
|Median Rental Price||$540 p.w.|
|Change in Rental Rate (5yr)||8 %|
|R&H Suburb Summary||Units|
|Number of sales||9|
|Median Rental Price||$500 p.w.|
|Change in Rental Rate (5yr)||11 %|