DA Approved For 33 Units With Water Views
Property ID: 20075963
DA APPROVED FOR 33 UNITS
*3.5 years remaining on the approval!
*Full DA, Development Feasibility, Current Cash flows and Projections available on Request!
Purchase Price: $1.3M
Current Rent: $24960 P.A
Gross Holding Yield: 1.9%
Projected development return: $2.7M
Development ROI 20%+
* Tenanted land bank opportunity
* Amazing opportunity to develop 33 units over 7 levels
* Coastal Location with Ocean Views upon building completion! (200 metres to the water)
*Potential to cosmetically renovate for higher holding returns. ($55,120 P.A or 4.2% Gross)
* Within a 2Km radius is an abundance of amenities including: Multiple bars, Restaurants and Coffee houses. There are also many choices when it comes to schools, parks and shopping centres.
*Woolworths is within a 2.5Km drive as well as Banks, Chemists, Doctors and an Australia Post.
*10,000 new residents are projected to move into the area by 2036.
*Current demand for housing in the area is ahead of supply. This is set to continue with online search interest rising rapidly and average listing times halving in the past 2 years.
If you would like more information please call We Find Houses on 1800 600 890.