Only approximately 365m to the beach, this rare offering boasts an excellent rental return, and there is extra potential to increase the current rent yield by adding another two large townhouses on the block.
Situated in a prime location with a massive allotment size, just over a quarter of an acre (1095m2 approx.), the capital improvements include four extremely spacious and very solid two-bedroom apartments plus a 5th dwelling which is a two-bedroom villa unit at the rear of the block.
Three of these dwellings are now leased and two are vacant and thus are ready to be inspected.
Further improvements can be made to these five dwellings to not only increase the rental yield but also to capitalise on the blue-chip location.
To further sweeten the deal, plans have been lodged to the council to build 2 x 3 bedroom, two bathroom, double lock-up garage, townhouses.
With so many ways to 'skin a cat' on this rare offering, this simply would not last long.
While we can never guarantee what's going to happen in the future, all indications, are that property like this will be an invaluable asset and income stream to any superfund or personal property portfolio.
For more information, copy the plans, and anything else you may wish for, please contact Adrian Foster or Leon Komm.
This is a conjunctional sale with Deal Real Estate.
