Massive Land, Excellent Returns, Blue Chip Location
Located on the waterfront of beautiful Moreton Bay, this timeless Queenslander (circa 1920) boasts options galore. Currently configured as five units (all of which are tenanted) and sitting on a huge parcel of land of 1,341m2 with manicured grounds. The property has been very well looked after both internally and externally with all units being very well presented.
This property presents a range of potential options:
Continue renting the property as a low maintenance, high demand, investment property with a current gross rental income of $78,000 per year. Depreciation reports available.
Potential could exist to add further rental value by way of internal modifications or perhaps creating individual outdoor courtyards (subject to relevant authority approvals)
Alternatively, you could explore the option of converting to a glorious family residence, with room for a tennis court and pool, then sit back and bask in the ambiance of a bygone era (subject to relevant authority approvals).
Or even perhaps investigate the development potential of such a large parcel of waterfront land (subject to relevant authority approvals).
Either way this could be the purchase of a lifetime. The current Government unimproved land value alone is a whopping $1,350,000.
The location is second to none. Your tenants will enjoy leisurely strolls along Flinders Parade, taking in the bay breezes as they partake of the alfresco coffee shops and seafood dining options. They could spend some time on the water, perhaps a spot of yoga in the park, or just relaxing with a book watching the sun dancing on the bay. The main...