Prime Hendra Location with Fantastic Potential and Investment Opportunity
Located in the heart of Hendra, a fantastic opportunity is being presented to savvy investors, developers, or owner occupiers. On offer is a prime 632m2 block of land with a multitude of potential options. Zoned Residential A - Multi Unit Dwelling this site has a proven income with three leases in place, currently returning $47,840 PA. It has an approximate frontage of 14.7 metres and a 42.9m depth. If you are looking for an addition to your investment portfolio to set and forget, with the potential to redevelop in the future this is a rare opportunity for you. The property is surrounded by beautiful character family homes in one of Brisbane's best suburbs and is so close to all amenities. First home buyers could live in the front residence and rent the rear units out, investors could renovate to increase the rent and hold, whilst developers could look at building brand new townhouses at the rear and completely renovate the front home into a magnificent Queenslander which still has all of its original character features. The current tenants are all very long standing tenants paying under market value. There is potential to increase rents and achieve good return on investment. Current Format of Property: *all units are on one title Unit 1 (Queenslander House and front yard) - 2 bedroom + sun room, 1 bathroom, 1 car space, rented at $360pw ending 26/06/2024 Unit 2 - 1 bedroom, 1 bathroom, 1 car space, rented at $280pw ending 16/02/2024 Unit 3 - 1 bedroom, 1 bathroom, 1 car space, rented at $280pw ending 16/08/2024 Total income is approx $47,840 pa The building is in good condition and low maintenance. The site is level, flood free and clean of services making any redevelopment of this site hassle free. Hendra is conveniently located with close proximity to the Brisbane CBD and well serviced by major transport, bus and rail. The racecourse Road precinct, Brisbane Airport, Nundah Village and Westfield Chermside are all just a short drive away. Please call Narelle Lorensen on 0439 201 011 or Harleigh Harris on 0428 609 266 should you have any further questions. Disclaimer This property is being sold by auction or without a price and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes
