This property offers the opportunity to acquire an enormous parcel of land in Greenly Avenue, with many options for the buyer to capitalise on your investment. But also, it may suit someone who would like to build a large home on one title, and have plenty of space around the residence. Several options are available, subdivide into 4 good size residential allotments, one with a house already, subdivide into 2 large residential lots, or, even create some smaller allotments. Maybe, build a row of townhouses?
Measuring 3129m2, and having over 70 metres frontage to Greenly Avenue, this lot is on one Title, but as mentioned, could be subdivided. A compact 2 bedroom home sits nicely on potentially one lot, and could be retained as a residence, and would provide an immediate return, as a rental property. The western end borders Bay Street, which provides dual access to this potential lot, great for a boat shed behind the dwelling. A couple of older sheds provide storage, but could be easily removed for development. The home is in quite good condition with a serviceable kitchen, wet areas, electric h/w system, and reverse cycle split system air conditioning. Being a transportable, it could be relocated, as access to either end of the building is open.
A block of land with this frontage and zoned “residential” in Greenly Avenue is quite unique. This property is ideal for an investor, who is looking for an opportunity to capitalise on subdividing and developing. There are very few vacant blocks left in the ever popular Greenly Avenue.
Priced at $370,000, make sure you’re onto it asap. Call Mike on 0428854020 to discuss some options.
|R&H Suburb Summary||Houses|
|Number of sales||14|
|Median Rental Price||$263 p.w.|
|Change in Rental Rate (5yr)||3 %|
|R&H Suburb Summary||Units|
|Number of sales||0|