Position and potential are the 2 elements most sought after when it comes to buying property. With a wide frontage and 809sqm of prime real estate, this property overwhelmingly offers buyers these 2 elements better than any other recent offerings in New Farm.
It’s fast becoming impossible to find any good renovators left in New Farm and yet some of the best ones, like this one, are still waiting. It’s way more than a ‘renovator’s delight’; it’s a renovator’s dream opportunity. An architect will find this blank canvas so exciting because the options are endless.
The current configuration is 5 flats comprising 3 x 2 bedroom upstairs and 2 x 1 bedroom downstairs. The rental income, although currently under market value, is at nearly $60,000 per annum. This will assist your holding costs while you seek BCC approvals for the renovations or redevelopment.
The position is excellent, with all the conveniences of the village life – shops, boutiques, cinemas, theatres, markets, parks, and much, much more. Access to the CityCat is only 2 minutes away, with public transport at the door. This is an outstanding investment, making an inspection a must!