Presenting 123-125 Eugaree Street, Southport... astute investors, developers, builders, this is your chance to secure this totally unique buying opportunity. Two substantial houses occupy a rare 2,024m2 huge double block of redevelopment land with the potential to build up to 90 x 2 bedroom units. Alternatively, you have the option to build on one of the two sites immediately with an existing DA in place for 27 apartments (mix of 2 and 3 bedroom) and build on the second site as a stage 2 project.
The choice is yours...
1. BUY & LANDBANK whilst receiving multiple income streams from 2 homes.
2. BUY, BUILD & SELL for maximum development profit.
3. BUY, BUILD & HOLD for maximum income and depreciation.
Estimated rental income on BUY, BUILD & HOLD basis...
90 x 2 bed 2 bath units
90 x $800 - $900 per week = $72,000 - $81,000 per week or
$3.7 million - $4.2 million annual income
123 Eugaree St:
50+sq substantial home with large 3 bedroom, 2 bathroom residence upstairs. Downstairs features fully self contained 1 bedroom, 1 bathroom granny flat. Plus a huge separate studio that has enormous scope to create an additional income stream with an immediate value add opportunity. In addition, the residence features, swimming pool, huge outdoor terrace, indoor spa, double lock up garage plus additional off street parking for multiple vehicles.
125 Eugaree St:
Charming character home with 2 large bedrooms plus an additional 3rd or study space. Great condition throughout with polished floorboards and newly installed air conditioning. Under house garaging and storage.
The side-by-side properties are perfectly located within walking distance to the light rail station, bus stop, schools and shops. The Southport CBD, Griffith University Hospital, and the new and exciting Queen Street Village development are all within close proximity.
Summary of features...
- 2x 1,012m2 redevelopment sites = rare 2,024m2 double block
- 2x homes with scope for maximum rental returns
- 1x site has DA already in place for 27 apartments, mix of 2 and 3 bedroom
- Combined site has potential for up to 90 apartments
With redevelopment land in this highly sought after pocket becoming literally impossible to acquire, you will need to act fast. Phone now!
Disclaimer: In preparing this information we have used our best endeavours to ensure the information contained herein is true and accurate, but we accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies, or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.
