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Block of Units Sold in Coorparoo, QLD224-228 Cavendish Rd

SOLD
10 Beds
6 Baths
6 Parking
  • Garages 3
  • Car Ports 3

Will be Sold as is Where Isto be Sold Individually or Buy Both? you Choose but will be Sold!

Property ID 1945810
Ray White is proud to present this super rare and once in a lifetime opportunity in the heart of Coorparoo to acquire either -

1. A Character building of three flats on 622 sqm*
2. A brick and tile Block of three 2 bedroom units on 473 sqm*
3. Or the LOT on a stunning 1,095 sqm* of real estate gold

The choice will be yours but the vendor has said a sale will take place.

Option 1 - 1-3/224 Cavendish Road

* 622sqm*
* Corner block with elevated position
* 3 car accommodation
* 3 separate living spaces each enjoying their own bathroom, kitchen, entry
* Presently occupied by three separate tenants
* Each lot separately metered electricity and independant hot water systems
* Potential Rental income of $29,000 - $36,400/Annum* with Existing rental income $22,880*
* Zoning LMR2 - LOW MEDIUM DENSITY RESIDENTIAL (2 OR 3 STOREY MIX) ZONE

Option 2 - 1-3/228 Cavendish Road

* 473sqm*
* Solid brick and concrete construction
* 3 separate apartments on separate titles
* All apartments 2bed, 1 bath, 1 car
* Separately metered power
* Potential Rental income of $41,080 - $45,760/Annum* with Existing rental income $35,880/Annum*
* Zoning LMR2 - LOW MEDIUM DENSITY RESIDENTIAL (2 OR 3 STOREY MIX) ZONE

Option 3. - Buy The Lot

Sitting on approximately 1,095m2 of elevated land, in a high profile corner location this complex holds exceptional future potential. Now is the time to take advantage of this goldmine and secure your long-term future.

These two buildings offer immediate income now but would lend themselves to improvements to increase yields. The two sites and buildings will be sold as one complete lot or offered individually but will be sold.

With so much potential and multiple options on hand such as renovate and increase the current yield or re-sell, part or full demolition and build apartments or townhouses (STCA). Due to the high profile location it could also be suitable for medical suites or a Childcare centre(STCA).

* To be sold as one combined lot or individually
* Strong rental income upside and future opportunity for savvy investor
* Current rental income of $58,760 per annum with potential income from $70,000 to $82,000 with all dwellings achieving market rent
* Magnificent corner allotment of 1095m2 approx
* Close proximity to Coorparoo Square Shopping Village
* Great strata subdivision/development opportunity(STCA)
* Six separate self contained living spaces over two buildings
* Coorparoo is an evolving suburb only 4 kms from the CBD

These properties will be sold as one lot or separately so enquire today and find out how this rare opportunity with so much upside can help grow your investment portfolio today.

AUCTION ON SITE SATURDAY 15TH SEPTEMBER AT 3:00pm

* * Approximate

* STCA - Subject To Council Approval

NOTE -

All information contained therein is gathered from relevant third party sources. We cannot guarantee or give any warranty about the information provided. Interested parties must rely solely on their own enquiries and investigations. The properties are to be sold on an as is where is basis as outlined with the contract of sale.

For all enquiries please contact the agent's:

Ian Cuneo
0416 139 656
ian.cuneo@raywhite.com

or

Ben Cannon
0413 596 496
ben.cannon@raywhite.com