Capital City Townhouse Development Site, 20% Return
Property ID: 19329285
Purchase Price $740K
Yield up to 8 X 3 Bedroom Townhouses (STCA)
782m2 block of land
Zoned Low-Medium Density Residential, Up to 3 Levels
20 Metre Frontage
Projected return 20.1%
Zoned for up to 8 X 3 level townhouses, just 10km from the Brisbane CBD and in a quiet street, this opportunity will not last long.
Similar properties in the surrounding streets have recently been developed, showing the local Council's appetite for this type of project.
This suburb is in high demand due to the proximity to the CBD, affordability and nearby facilities. Currently vacancy rates are below 2%. More than 70% of properties are owner occupied, while household incomes are higher and levels of public housing are lower than state averages.
The existing house will bring in around $390 per week in rent while you get the Council approval in place.
The house is in an excellent location, being just walking distance to dozens of Restaurant's and Coffee shops, Childcare, Schools, Woolworths, Coles, Cycling and Walking tracks, Parks, Shopping, Banks, Gyms and there is a bus stop right at the front door.
It is just 1.5km to a train station with direct access to the CBD and 1.2km to a shopping centre with Big W, Target, Coles, Woolworths and more than 50 specialty stores.
There are 3 Hospitals, a University Campus, more Shopping, more Restaurants & Cafe's, more Schools, Harvey Norman and a Bunnings within a 10 minute drive.
For further details call Matthew barnes on 0430 979 900.