2127sqm Block with 2 two bedroom units and 11 One-Bedroom Units + Development Potential
Property Highlights:
• 2041sqm block on one title
• 13 well-maintained, fully tenanted units
• Private car parking for all units
• Impressive rental income of approx. $200,000 per year
• Zoned for potential large-scale apartment development (STCA)

This is a rare opportunity to secure a high-yielding investment property with strong rental returns, offering immediate cash flow and significant development potential. Situated on a substantial 2041sqm parcel, the property features 13 individual one-bedroom units, each complete with its own parking space, making it a desirable option for tenants and investors alike.

The property currently generates an annual rental income of approximately $200,000, thanks to existing long-term tenants. However, based on today's rental market, the potential rental income is estimated to be around $300,000 per year. This asset offers a stable return, with an approximate gross return on investment of 6.5% (potentially), but its true value lies in the potential to develop a large apartment complex (Subject to Council Approval).

Perfect for astute developers or investors looking for a property that combines current income with future growth potential.

Don’t miss this exceptional opportunity!

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