An incredible opportunity has arisen to secure a generous - and flat - development site, situated in highly desirable Lyall Bay, right over the road from the beach, with substantial holding income in place.
- 2 fee simple titles - the vendor prefers to sell in one parcel
- 2 x 498sqm* = 996sqm site in total (Source: Title)
- Flat land with good road frontage
- Directly over the road from the beach
- 9 studio flats (1970s construction in poor condition)
- Gross rental income circa $1,900pw
- Combined RV (2018) = $1,730,000
- Combined Rates = $6,838.87pa
If you are looking for a townhouse project in a sensational location, with strong holding income to tide you over while you get your plans organised, this one demands your attention! Alternatively, just land bank and keep collecting the rent, while values continue to increase...
FOR SALE BY NEGOTIATION.
For more information, please contact Adam or Brent. No open homes and viewings strictly by appointment to qualified buyers.