If you've been searching for a property that offers more than meets the eye, this is one you won't want to overlook!
Positioned in a convenient Cessnock location, 9 Ferguson Street presents the opportunity to secure a substantial 1,038m² parcel of R3 Medium Density Residential-zoned land, complemented by a tidy, tenanted three-bedroom cottage dating back to the 1930s.
For developers, the combination of R3 zoning, generous land size and excellent side access makes this property well worth investigating for its future potential, with possibilities to explore subdivision or the addition of a granny flat, subject to council approval and applicable planning controls.
Investors will appreciate the existing dwelling and current rental income of $400 per week, providing an immediate income stream under the existing tenancy arrangements. There is also scope to enhance the property's presentation through cosmetic updates, with the potential to improve rental returns subject to market conditions and the extent of any improvements undertaken.
First home buyers may be drawn to the character-filled cottage, offering three generous bedrooms, comfortable accommodation and plenty of outdoor space to make their own. The existing home provides an opportunity to enjoy the property as it stands while exploring the possibilities the substantial landholding may offer over time.
Combining a sizeable land parcel, R3 zoning, valuable side access and an established rental property, 9 Ferguson Street presents a versatile opportunity for buyers seeking a property with immediate appeal and exciting possibilities for the future.
FEATURES YOU'LL LOVE:
• R3 Medium Density Residential zoning
• Expansive 1,038m² parcel of land
• Tidy three-bedroom cottage dating back to the 1930s
• Generous outdoor space and excellent side access
• Currently tenanted at $400 per week
• Rental Appraisal of $450 - $500p/w (approx.)
• Potential to improve rental return following cosmetic updates, subject to market conditions
• Convenient Cessnock location close to local amenities
• Potential to investigate future development options, subject to council approval and applicable planning controls
• Potential to Subdivide (STCA)
• Granny Flat Potential (STCA)
GEOGRAPHICAL HIGHLIGHTS YOU'LL LOVE:
• St Patrick's Primary School - approx. 0.9 km
• Cessnock East Public School - approx. 1.2 km
• Cessnock Public School - approx. 1.3 km
• Mount View High School - approx. 2.3 km
• Cessnock town centre and shopping precinct - approx. 1-2 km
• Cessnock Hospital - approx. 2-3 km
• Local bus services along Vincent Street - within the Cessnock town centre
• TAFE NSW Cessnock campus - approx. 1-2 km
• Cessnock CBD employment and business precinct - approx. 1-2 km
• Hunter Valley wineries and Pokolbin attractions - approx. 12-15 km
• Hunter Valley Gardens, Pokolbin - approx. 15 km
Disclaimer:
Please note: The photographs used for marketing purposes were taken when the property was last vacant, prior to the current tenants moving in. Last vacant early 2021
Information contained on any marketing material, website, or other portal should not be relied upon.
You should make your enquiries and seek your independent advice about any property advertised or the information about the property.
All additions, changes, and developments are subject to council approval.
Distances are approximate.
