An exceptional investment opportunity with plenty of scope for development potential has arrived in the long-established suburb of Tenambit - a location that continues to grow in popularity due to its convenience, lifestyle appeal, and proximity to key local amenities.
Positioned only moments from Maitland Golf Course, the new Maitland Hospital, and the bustling Stockland Green Hills Shopping Centre, this unique property offers outstanding potential for the savvy investor or developer.
Set in a quiet cul-de-sac and occupying a generous 1,079sqm parcel of land, this property features two solid brick and tile 2-bedroom flats, both in sound condition for their age. Each flat offers comfortable living spaces and functional layouts, with a combined potential rental return in the vicinity of $950 per week - providing an immediate income stream while you plan the next stage of improvement or expansion.
Adding to the appeal is a double carport, two single garages attached to the carports, plus a rear brick shed ideal for storage or workshop use. The wide frontage and deep allotment provide excellent accessibility and flexibility for future use.
For those with an eye for value-adding opportunities, the large rear portion of the block presents an exciting prospect for further development (subject to council approval). Whether it's the addition of a granny flat, freestanding villa, or another single dwelling, this extra space offers scope to significantly enhance the property's long-term yield and overall value.
With some thoughtful planning - including the reconfiguration of car parking and site layout - this property could evolve into a multi-income holding that performs exceptionally well in the current rental market.
Investment opportunities of this calibre, with existing dual dwellings and genuine potential for future development, are rarely available in such a convenient and established location.
If you're an astute investor seeking a high-performing asset with room to grow, or simply looking to capitalise on the strong Maitland region market, this Tenambit property deserves your full attention.
Proudly marketed by LJ Hooker Maitland, please call exclusive agent Kane Bradley 0423 525 335 7 days for all inspections & further information.
All information contained herein is gathered from sources we deem to be reliable. However, we cannot guarantee its accuracy and interested persons should rely on their own enquiries.
