LMR Zoning with 3 Units, Great Holding Income with Massive redevelopment Opportunity

A rare opportunity for investors, builders and homeowners just arrived in the heart of Redhill!

LMR Zoning with 3 Flats generating a solid income and an opportunity to add further 3-5 dwellings (STCA). This multi-dwelling complex features three flats: one spacious 2-bedroom unit and two cozy 1-bedroom units.
With the property surrounded by townhouse complexes it represents a great opportunity to secure this last block with huge potential and within mins of Brisbane CBD.

AUCTION DETAILS:
When: Wednesday 30th October
Where: In Room Auction @ 6:00 PM - Raywhite Rochedale - G4/1 Centre Place, 467 Underwood Rd, Rochedale South QLD 4123
Registration Starts At 5:30 PM
Bidder Registration Link: https://widget.auctionslive.com/widget/auctions/view/201182/WOE

Currently generating a solid $53,184 annually in gross holding income, projected annual income on lease renewals is $69,348, property is consistently fully rented, providing steady returns. With potential for redesign and even redevelopment, it's a gem for long-term investors seeking stability in a sought-after inner-city area with low vacancy rates and strong capital growth.

Strategically located just a few kilometres from the CBD, this property offers unbeatable convenience. It's a stone's throw from Waterworks Road, ensuring quick access to vibrant Paddington, the Bronco's Leagues Club, hospitals, and local shops. Plus, public transport is within easy walking distance, making it ideal for tenants.

Key Features:
•Block of 3 Brick Veneer Units
•No Strata fee
•Total Rates: $1584 quarterly
• Total: 4 Bedrooms, 3 Bathrooms, 6 Car Parks
•549m² Land Area, zoned LMR
•$53,184 gross holding Income
•$69,348 projected annual income on lease renewals
•Potential to add further 2-3 units with existing floor plan
•Potential to add another level and 3 more units
•A total of 9-10 Units can be built on this site (STCA)
•Value-Add Potential for higher rents
•Massive redevelopment opportunity for even greater ROI

Unit 1
• 2 Bed 1 Bath 2 Car
• Rental Appraisal: $580 - $620

Unit 2
• 1 Bed 1 Bath 2 Car
• Rental Appraisal: $380 - $420

Unit 3
• 1 Bed 1 Bath 2 Car
• Rental Appraisal: $380 - $420

Don't miss this incredible chance to invest in a property that promises growth and returns. For more information or to schedule a viewing, please contact us today!

Contact Syed @04165 498 295 or Sunny 0449 048 492
To register your interest or to book a private inspection.
All open home timings will be posted online weekly.

Disclaimer:
All information contained herein is gathered from sources we consider to be reliable. However we can not guarantee or give any warranty about the information provided and interested parties must solely rely on their own enquiries.

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