This unique investment opportunity features an old but structurally sound block of flats, comprising three (3) core houses, each offering 2 bedrooms, a dining room, kitchen, and bathroom. The block is situated on a generous 1,250-sqm providing ample space for further development, whether for residential expansion, redevelopment, or a more modern housing project.
Currently, the property is tenanted by 3 households, generating a combined $600 in monthly rental income. While the flat itself is aged and in need of maintenance, it holds significant potential for a developer or investor with vision and creativity.
This property would suit someone looking for:
A large piece of land with development potential.
A value-add project with existing rental income.
A project where improvements could significantly uplift both rental returns and property value.
With plenty of space to explore your development ideas, this property offers an excellent opportunity to unlock hidden value.