Description
This property has been priced to sell quickly. The vendor doesn't want to muck around. Located on the fringes of the university precinct, this 890m2 site has a 4-bedroom flat at the rear of the section, with a front section raring for development.
Rented until 30/12/2025 at $640 per week and currently advertised at $680 per week for 2026, the flat consists of 4 large bedrooms, spacious lounge with wood burner, modern kitchen, bathroom + separate toilet. The deck is positioned well for morning sun.
The front section is sitting there, just waiting for someone to develop it. Zoning rules allow for 1 bedroom per 100m2 so up to 5 more bedrooms can be built (subject to DCC consent). The ability to earn rental income while developing is one of the many positives that this property has to offer.
At this price (6.3% return on the 2025 rent), very little value has been allocated to the front section so you're basically getting the land for free. If you're a developer that's been waiting a while for a site that will provide a decent margin, this is the one.
