159-161 Bourke Road presents a rare opportunity to acquire six (6) well-leased two-bedroom units across two titles, on 1,561.9 sqm of R1 General Residential zoned land - offering investors strong holding income with genuine long-term development upside.
This property is available individually or as part of a combined acquisition with the adjoining property at 163 Bourke Road, Umina Beach (also for sale). Together, the two sites form a substantial 2,352.3 sqm landholding generating approximately $187,700 gross rental income per annum across 9 tenanted units - a compelling proposition for developers and land bankers (STCA).
Investment Highlights:
· Six (6) x 2-bedroom units with 6 garages, across two titles
· Four renovated units and two in original condition
· All units currently leased
· Approx. $133,900 gross rental income per annum
· Approx. $11,000 statutory outgoings per annum (net approx. $122,900 pa)
· R1 General Residential zoning - 1,561.9 sqm
· Highly desirable location close to shops, transport and local amenities
· Significant development opportunity (STCA)
· Combined landholding of 2,352.3 sqm available - see 163 Bourke Road
There is a clear significant opportunity to uplift the return through renovations. The substantial landholding and R1 zoning further enhance the long-term redevelopment potential (Subject to Council Approval).
Opportunities combining scale, income security, and development potential are rarely brought to market.
Contact us today for a full list of photos and 360 degree walk through of units in the complex. IM available upon request.
Please contact Ty Reynolds 0498 880 826 or Andrew Quilkey 0421 200 330 about this amazing opportunity.
