Back 2/40 Lorna Lim Terrace
Off Market

2/40 Lorna Lim Terrace

Driver NT 0830

2
1
1
117 m²
Unit
Last sold for $339,000
Manolis HourdasManolis Hourdas, last sold this property on 24 September 2026 after 3 days on market.

Overview

Prime Palmerston Investment Opportunity

For more property information including body corporate and reports text 2L to 0488 810 057 Offering easy-care living in a convenient Palmerston location, this first-floor two-bedroom apartment combines a practical layout with a private balcony, great storage and easy access to shops, dining and local amenities. Currently tenanted until June 2027, it also presents a great investment opportunity with an established tenancy already in place. • Two spacious bedrooms with built-in robes and split-system air-conditioning • Open-plan living and dining with direct balcony access • Functional kitchen with breakfast bar and ample storage • Private covered balcony ideal for relaxing outdoors • Bathroom with shower and vanity, plus separate toilet • Separate lock-up storage room downstairs • Undercover parking within the complex • Currently tenanted until June 2027 • Quiet setting surrounded by parkland • Walking distance to Palmerston Shopping Centre, CBD and golf course Inside, the open-plan living area creates a comfortable central space, flowing directly onto the private balcony. The kitchen sits at the heart of the apartment and provides plenty of storage and bench space for everyday use. Both bedrooms are generously sized with built-in robes and air-conditioning, while the downstairs storage room adds valuable extra space. With an established tenancy secured until June 2027 and shops, restaurants, parkland and the Palmerston CBD all close by, this is a fantastic opportunity for investors looking to secure a well-positioned, low-maintenance property. Offering easy-care living in a convenient Palmerston location, this first-floor two-bedroom apartment combines a practical layout with a private balcony, great storage and easy access to shops, dining and local amenities. Currently tenanted until June 2027, it also presents a great investment opportunity with an established tenancy already in place. • Two spacious bedrooms with built-in robes and split-system air-conditioning • Open-plan living and dining with direct balcony access • Functional kitchen with breakfast bar and ample storage • Private covered balcony ideal for relaxing outdoors • Bathroom with shower and vanity, plus separate toilet • Separate lock-up storage room downstairs • Undercover parking within the complex • Currently tenanted until June 2027 • Quiet setting surrounded by parkland • Walking distance to Palmerston Shopping Centre, CBD and golf course Inside, the open-plan living area creates a comfortable central space, flowing directly onto the private balcony. The kitchen sits at the heart of the apartment and provides plenty of storage and bench space for everyday use. Both bedrooms are generously sized with built-in robes and air-conditioning, while the downstairs storage room adds valuable extra space. With an established tenancy secured until June 2027 and shops, restaurants, parkland and the Palmerston CBD all close by, this is a fantastic opportunity for investors looking to secure a well-positioned, low-maintenance property. The Finer Points Council Rates: Approx. $2,161.66 per annum  Area Under Title: 117m² Year Built: 1996 Zoning: MR (Medium Density) Status: Leased @ $440 per week until 1 June 2027 Rental Estimate: Approx. $480 - $530 per week Body Corporate: North Management Body Corporate Levies: Approx. $1,032 per quarter Settlement period: 45 days or variation on request  Easements: As per title Deposit: 10% or variation on request 

Features

2 bedrooms
1 bathroom
1 carspace
1 carport space
117 m² lot size
Unit

Estimated Value

Based on this property and similar 2 bedroom units sold in Driver over the last 12 months, the estimated median property value of 2/40 Lorna Lim Terrace is $386.5k.

Median value
$386.5k
Estimated value range
$305k - $460k
Median days on market
7
Estimated value trend
29%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Driver. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 2/40 Lorna Lim Terrace

2026
Sold
$339,000
24 Sep 2026 by Manolis Hourdas, of Real Estate Central
2022
Rented
Undisclosed
Leased on 07 Jun 2022 by Elders Real Estate Palmerston
2020
Rented
Undisclosed
Leased on 10 Mar 2020 by Elders Real Estate Palmerston

Happy sellers in Driver

100%
100% of sellers in Driver reported that their sale price either exceeded or met their price expectations.

Driver stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 3 reviews in Driver over the last 12 months.

Local market activity for 2 bedroom units in Driver

In the last 12 months, 17 two-bedroom units similar to 2/40 Lorna Lim Terrace, have been sold.

This represents a 41% decrease in two-bedroom units sales when compared to the previous 12 months.

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