This retro beauty is a property with outstanding potential, presenting the opportunity to secure a rare, corner parcel of land zoned Low Medium Residential (LMR). A flat and elevated, 615sqm parcel of land with a tidy home this is an investment that would achieve a solid yield in the short term, and outstanding growth into the future.
The perfect property for the savvy investor or homeowner, this investment offers both a great rental or family home, and amazing long-term growth potential. The zoning of this block presents the option to subdivide into two lots or develop into units or townhouses (subject to council approval). Currently on the site is an almost original home for the area, brick and lowset design. The kitchen and bathroom are dated, but under the lino and carpets is the beautiful hardwood flooring these homes are renowned for and loved by renovators. The three bedrooms are full of natural light and the bathroom is spacious. The home is of solid construction, and would be a great live-in project should the property be purchased as a home. The established gardens and beautiful entertaining spaces would make this a comfortable and easy property to call home.
In addition to homeowners looking to purchase, investors looking to land bank and tenant the home will see strong demand from prospective tenants looking in the area. The appraised value of the property, as is, would be approximately $450 per week, however with a few cosmetic improvements and upgrades the yield would be greater.
The Acacia Ridge area is a fantastic pocket, popular for investors seeking long-term growth in an area with great proximity and accessibility, this property offers potential plus to the lucky future owners.
Auction On-Site Sunday 10am 7th August 2022
