Turn 2 Into 3, DA In Place
Property ID: 19672395
Purchase Price $990K
Rent $850 per week (Estimated)
Yield 4.46% (Estimated)
2 Fully Detached Houses on 2 lots
DA in Place to Create a 3rd lot
2 Street Frontage
Pick up 2 fully detached houses on 2 lots with a DA in place to create an additional vacant lot of land.
House 1 has 4 Bedrooms, 2 Bathrooms, Double lock up garage, 2 Living areas and Outdoor entertaining area. This house is on an 850m2 block of land.
House 2 has 2 Bedrooms, 1 Bathroom, Large separate laundry and study area. This house is on a 604m2 block of land which backs onto the first property.
Both houses can be rented as is but would also benefit from a renovation.
Median value for 4 bedroom houses in this suburb are $580K and 2 bedroom houses average $435K. There is very little land for sale in this suburb at the moment and the newly created lot would likely sell for approximately $300K.
There is currently an undersupply of housing in the area with vacancy rates below 2%. Supply is expected to stay tight in the long term as there is limited new land available to be developed.
These houses are walking distance to;
Ocean front 2.1km
Train station 2.7km
Within a 7 minute drive your tenants will have access to Woolworths, Coles, Aldi, Foodworks & IGA, Private school, Restaurants and Cafe's.
For further details call we Find Houses on 1800 600 890.