This exciting 683m2, RD3 zoned, elevated property captures wide ocean views and is a rare and unique opportunity calling out to strategic investors, owner-occupiers, and developers alike.
With scope to do so much it is worth noting all the potential possibilities; rent all 3 flats as is and hold as an investment, live in one flat and rent the others to enjoy an income-producing property, modernise the existing building and add value or subdivide and redevelop.
This solid brick dwelling consists of 3 flats on one title that can produce a total income of $52,500 to $58,240 p.a. The current tenants are long term and the owner has not increased the rent in line with current rental values. In addition, the largest flat is unrented as it is used by the owner on a personal basis.
There is scope for modernising the internal fit-out of all flats, adding an extra room to one of the flats, and upgrading the external facade thus adding value to the existing dwelling in terms of both income production and end sales value.
The potential exists to subdivide this premium RD3 site into 2 Torrens title lots or reconfigure it into a dual occupancy due to the block size, services running on both streets and ingress and egress from both Hungerford Lane and Sutherland Street. The elevated position captures amazing, never to be built out Pacific Ocean vistas from both street fronts.
* 683 m2 block.
* RD3 medium density
* 2 street frontage
* Services running on both streets
* Ocean views from both streets
* 3 flats on one title
* Solid brick construction
* Unit 3 rent: $480 to $520 p.w.
* Unit 1 rent: $280 to $320 p.w.
* Unit 2 rent: $250 to $280 p.w.
* Council Rates:$4,937.30 p.a.
* Water Rates: $230 per quarter
With a range of possible uses, tonnes of upside potential and a fantastic location within a short stroll to the creek, beach, shops and cafes this is a unique opportunity not to be missed.
* Town planning information relating to subdivision available upon request.
Tuesday 10th December
Currumbin RSL, Currumbin
6:30pm EDST
