This tenanted 1970s brick-and-tile home presents an unmissable development opportunity on 757 square metres of R80B zoned land, mere steps from Midland Gate Shopping Centre. For investors, this property delivers immediate rental returns combined with substantial multi-unit development potential that could transform your portfolio.
3 bedrooms 1 bathroom
1970s-built brick and tile
OP lounge/meals kitchen
Carport and lock-up garage
Good-sized fenced backyard
Tenanted until end of 2025
Develop & income potential
High-density multi-level site
757 sqm lot R80B zoning
250 m to Midland Gate
With R80B zoning, this 757-square-metre site could accommodate multiple apartments, subject to council approval. The tenancy arrangement through to late 2025 provides immediate cash flow, allowing you to collect rent during the planning and approval phase.
This isn't empty land sitting idle; it’s a low-maintenance brick home that won't drain your budget with constant repairs. The home boasts open-plan living, a good-sized kitchen with original cabinetry and an electric oven and cooktop. Three bedrooms, one with split-system air conditioning, share a family bathroom and a separate WC located off the walk-through laundry. The fully fenced backyard is overlooked from a large, sheltered patio extending from the rear of the home, and a single-carport and lock-up garage provide off-street parking for two cars.
Midland is recognised as a significant urban centre, with the expanding hospital precinct, improved train and bus services, and Midland Gate – a mere 250 metres away – drawing more people to the area and a convenience future tenants will appreciate.
For developers and investors, this is a unicorn opportunity, an existing home with a sitting tenant generating immediate income of $650 per week and high-density zoning underpinning significant development and income potential.
To arrange an inspection of this property, call Brad Williams on 0408 887 375.
