5 Units with an opportunity for 5 Storey High Apartments

Take advantage of this excellent opportunity located in vibrant North Ward, close by to the iconic Strand. This popular, up market area is famous for its breathtaking water views across to Magnetic Island, enjoyed whilst using the local amenities such as the Strand Rockpool, parks, picnic spots, walk ways and friendly restaurant and coffee shop scene. Residents also enjoy the convenience of easy walking distance to the North Ward and Strand shopping hub.
The block is comprised of 5 solidly built, self-contained, two bedroom garden units, which enjoy views of Castle Hill.
There is NO BODY CORPORATE established. While this block has been prepared to strata, it hasn’t yet been. Offering the new owner flexibility, potential, and freedom. Run the business as is, or take advantage of the lucrative short-term AIRBNB market or holiday letting. Or perhaps strata and sell a unit or 2.
All 5 units are currently tenanted, earning an annual income of $68,000. With half-yearly rates of $6,957, this is a rare investment opportunity.
Thanks to a new higher density re-zoning by Council, there is an opportunity to develop this site into a 5 storey block (Subject to Council Approval). This is an ideal investment for an SMSF and other astute investors.

Features include:

Solidly built units, all located on the ground level
5 x 2 bedroom air conditioned units
All units are being sold as-is” self-contained and fully furnished
Each unit come with an individual lock up garage
There is a cozy courtyard in the front of each of the units
Set on a large rectangular 1012 sq. mt block

This prime location close to the Jezzine Barracks and the City is a fantastic investment as either short or long term rental accommodation, with the potential to reap benefits from development or strata when the time is right.

Call Girish Menon on 0414 985 243 for a private viewing or email girish.menon@elderstsv.com.au