Imagine a great investment property or long-term development site in a highly sought-after and ever-popular Mayfield location. This early-1900s clad/iron home has been converted into three one-bedroom, self-contained flats. The property is fully leased with long-term tenants, returning $840 per week or approximately $42,000 per year (allowing for a two-week vacancy factor). The presentation is modest, with long-established tenants in place. Positioned in a quiet street, the property features a wide 18-metre street frontage with rear lane access and a flat, level block approximately 40 metres deep. The total land area is approximately 720 m².
The site offers strong long-term potential and is suitable for townhouse development (STCA). Zoned R2 low density residential, yet only minutes walk to shopping center, public transport and schools.
Inspection by appointment only.
Property Features:
Highly sought-after and popular Mayfield location
Modest presentation with established tenants
Quiet street position
Wide 18-metre street frontage with rear lane access
Flat, level block approximately 40 metres deep
Zoned R2 Low Density Residential
Disclaimer - This information, including but not limited to photographs (which may depict boundaries), copywriting, floorplans, and site plans, has been prepared by Dowling Property Group solely for the purpose of marketing this property. While every care has been taken to ensure the accuracy of the information provided, Dowling Property Group does not accept any responsibility for errors, omissions, or inaccuracies. Interested parties are strongly advised to make their own enquiries and seek independent professional advice
