This property is being sold at land value, making it the perfect investment or development opportunity!
This large level 708sqm block has a three-bedroom split level home on it. The family home itself is a little rundown, but in completely liveable condition. It's a raised timber home on stumps with gorgeous timber floorboards inside, high ceilings, 3 large bedrooms, front porch, generous living area and working kitchen. It has a lock up garage, plus other handy features such as a practical bathroom and a large laundry...
Presently tenanted and producing a rental income, you can keep the long-term tenants, land bank in a growing area central to everything, or develop and make phenomenal returns - the choice is yours!
The current owner's DA approval to build seven units has lapsed, but the new buyer can reactivate this DA and build in a street with numerous other three level apartment buildings.
With Low Medium Zoning, you could apply to renew the same DA plan the current owners were looking to use, which included:
- Six tri-level, modern units, with:
- Open-plan dining, living and kitchen areas overlooking terraces;
- Two spacious bedrooms with built-ins;
- A shared bathroom and large crisp ensuite with shower
- A large terrace on level one for outdoor entertaining and a smaller terrace on level two to the master bedroom; and
- One undercover carpark on the ground level.
- Another tri-level unit with a similar layout, but with separate laundry, extra bedroom and carpark, and larger terrace to level one with open-air pergola perfect for alfresco dining.
- Secure undercover carpark, contemporary stone feature wall at entry, glass balustrades and trendy rusted metal privacy screens to terraces, plus a Colorbond roof.
Many stunning new modern apartments have been built right next to this property, so this area is growing.
For a keen renovator, it's an exciting opportunity to take hold and transform into a stunning family home and reap the profit $$$$$$...
For a budget buyer looking to move in, add your elbow grease and renovate as they go.
Alternatively, there's plenty of potential for a budding home builder to land bank this property and design a new home to live in, rent out or on-sell as this property offers the perfect location to do so.
Within the popular Mt Gravatt State Primary and High School catchments, this property is located in a handy locale that's only 17 minutes to Brisbane's CBD. Only a walk to Mt Gravatt Plaza, Mt Gravatt Markets, numerous cafes and takeaways, city buses, and public and private schools, tenants and buyers will come flocking. It's also within close proximity to a range of other top-tier amenities:
- St Bernard's Catholic School and Clairvaux MacKillop College only 5 minutes' away
- Westfield Garden City's restaurants, entertainment and shopping a short 7 minutes' away
- TAFE and Griffith University's Mt Gravatt Campuses both 5 minutes' away
- Recreational facilities, like the bowls club, mini golf and bowling alleys to name a few, all reachable in under 10 minutes.
An unrivalled investment in an unbeatable location! Tenants are on a periodic lease, but would love to stay in this amazing area.
Develop, renovate, rebuild or land bank - the choice is yours!
Such great buying - ideal for investors, land bankers or developers who want to make money and stick to the lapsed DA or have their own plan. Whatever you do, don't miss out - Investors are selling so this property will be great buying!!
Submit your offers to Shirley Chow today!
We are committed to the health and safety of our customers and staff, and their families. There can be a maximum of 50 people in the premises at any time whist adhering to all social distancing (2m2 apart for spaces less that 200m2 and 4m2 apart for spaces more than 200m2) and strict hygiene requirements. Please also ensure that you follow social distancing measures and keep 1.5m away from each other.
All information contained herein is gathered from sources we consider to be reliable. However we can not guarantee or give any warranty about the information provided and interested parties must solely rely on their own enquiries.
