Please note: This property will be auctioned on Sunday, February 1st, as part of our Summer Showcase Auction Event held at the Hyatt Hotel Canberra. It will be in lot 2 of the event, which will commence at 11:00 am.
Secure a high-yield asset with significant future upside. On offer is a complete block of 6 x 1-bedroom apartments, held on a single title. Situated on a commanding 948m² (approx.) corner block, this property is a rare find for those looking to land-bank, renovate, or redevelop (subject to Queanbeyan-Palerang Council Approval).
Key Features:
• Total Land: 948m² (approx.) prime corner block
• Zoning: R3 Medium Density Residential - offering diverse development pathways
• Income Stream: 4 out of 6 units are currently tenanted, providing immediate cash flow
• Amenities: Each unit includes a dedicated carport; shared laundry facilities on-site
• Value-Add: Opportunity to renovate and increase rents or capitalize on the dual-street frontage for a fresh development.
• Located in Crestwood, close to Queanbeyan schools, Queanbeyan Hospital and close to Canberra Avenue for easy access for commuting into Canberra.
Current rents:
• Unit 1 $250 per week
• Unit 2 $180 per week - potential $250 per week
• Unit 3 $170 per week - potential $250 per week
• Unit 5 $250 per week
Total rental return potential $1500 per week approx
Council Rates: $2,439 per quarter approx
Please Note: Whilst all care has been taken by Ray White Canberra to ensure accuracy in the preparation of the particulars herein, no warranty or representation, express or implied, as to the accuracy or completeness of the particulars provided is made or given by us and interested parties must therefore rely on their own enquiries. Liability for any error, omission, negligence or misrepresentation is hereby excluded.
