Description
This property is located on an acre of land in a sought-after area next to Hillcrest High School. The property consists of two buildings and can be subdivided putting both homes on separate subdivisions. There are approved plans to build two, one bedroom cottages.
1. The first building contains two units - one with three bedrooms and two bathrooms, and another with two bedrooms and two bathrooms. Both units feature spacious, open-plan layouts.
2. The second building also has two units, each with two bedrooms and two bathrooms.
Additionally, the property includes two double garages, providing ample parking space.
Overall, this property offers multiple accommodation, suitable for rental income or other investment opportunities, in a prime location near amenities and a popular school. All currently have excellent tenants who are keen to continue renting.
The property features advanced amenities designed to enhance tenant comfort and operational efficiency. The newer building at the rear is equipped with a solar system, ensuring sustainable energy usage and reduced utility costs.
Future development plans have been approved for two additional one-bedroom cottages, promising increased rental income potential.
Each unit is equipped with pre-paid electric meters , simplifying utility management and billing. All unit include a gas hob.
Ample parking space and expansive grounds for recreational activities make this property ideal for families. With 3-phase electricity, the property accommodates current needs and future expansion, facilitating the addition of more cottages on separate lots.
The property currently yields a robust 11% return on investment, supported by stable tenancy and efficient management practices. Its prime location near essential amenities and easy freeway access further enhances its appeal.
There are staff ablutions.
With the potential for subdivision, each building can have its own lot number, offering flexibility and additional value. This subdivision opportunity underscores the property’s investment potential, making it an attractive option for discerning investors looking for stable returns and future growth in a desirable location.
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9
3
4047m2
