A fantastic opportunity to purchase such a large parcel of land in a highly sought after location with an excellent holding income. The property sits in an elevated prime “East of Bloomfield” location in a whisper quiet street yet is conveniently close to all the amenities that Cleveland has to offer.
Development Potential
• 1829m2
• It is currently 2 x 914.5m2 blocks
• Potential to sub-divide into 4 x 457.25m2 blocks (subject to council approval)
Holding Income
Current buildings on the site comprise of
1 x HOUSE (attached to the units by a covered breezeway)
• 1 x 3 bed/2 bath house – currently renting for $445pw…this tenant mows the lawns and yard maintenance which is worth around $80pw so the rent is discounted to reflect this (could achieve $550-$600pw)
4 x UNITS
• Unit 1 is currently renting for $330pw (should re-lease for $400pw)
• Unit 2 is currently renting for $370pw
• Unit 3 is currently renting for $400pw
• Unit 4 is currently renting for $400pw
Council rates $1643.73 per qtr, water & sewerage $1,160.32 per qtr, State government charges $454.89 per qtr
All on one water meter & separate electricity meters
For more details or to arrange a private viewing, please contact Wayne Hartley today.
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Stephanie Marshall
Wayne Hartley
