Positioned in a highly convenient location just moments from the lake, this outstanding development opportunity offers immediate rental income together with exciting future potential. The property currently comprises a well-maintained 3-bedroom unit and a separate 1-bedroom unit, together with D.A. approved plans for 5 Multi Dwelling Units. Enjoy the convenience of being within walking distance to the lake, local parks, and train station, making this an ideal opportunity for developers, investors or those looking to secure a prime parcel in a sought-after location.
The existing 1-bedroom unit features:
• Bright bedroom with built-in wardrobe
• Spacious lounge and dining area
• Easy care polished flooring
• New blinds throughout
• Private courtyard plus separate yard
• Single carport
• Currently leased on an expired tenancy at $380 per week
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The spacious 3-bedroom unit offers:
• Freshly painted interiors
• New blinds throughout
• Large open plan living and dining area.
• Modernised kitchen with breakfast bar
• Polished timber flooring
• Three light-filled bedrooms
• Updated bathroom with shower and bath
• Separate toilet
• Large, fenced yard
• Single garage/storage shed plus off-street parking.
• Currently vacant, previously leased at $480 per week.
Whether you are looking to commence development immediately, invest and generate an estimated return of approximately $46,000 per annum, or create your dream lakeside residence, this property presents endless possibilities with the water located approximately 100 metres away.
Approved 5 Multi Dwelling Units sizes include:
• Unit 1 - 94.92 sqm
• Unit 2 - 81.75 sqm
• Unit 3 - 59.55 sqm
• Unit 4 - 64.96 sqm
• Unit 5 - 79.19 sqm
A rare opportunity to secure a versatile site with strong holding income and approved future potential in a thriving lakeside location. Please contact us for plans and further information.
Disclaimer:
At Domain Illawarra Real Estate, we strive to provide accurate information in our marketing materials based on details supplied by our Vendors. However, we cannot guarantee the complete accuracy of this information. Therefore, Domain Illawarra Real Estate does not make any representation, statement, or warranty regarding the complete accuracy of the details shared. We strongly advise potential buyers to undertake their own due diligence when considering a property purchase. Please note that all photographs, maps, and images are for marketing purposes and are representative only.
