Real Estate Australia

DA approved 'next generation boarding house'...
$659,000

SOLD

Property Location: 225 Harbour Drive COFFS HARBOUR - NSW

Listing Id: 280/21

Details

Bedrooms: 2    Bathrooms: 1

Close to

TAFE college, hospital and Souther Cross University

Land

Size: 500 Square Mtr Approx   Rates: 3156   Zoning: R3 - Medium Density Residential

Comments:

Rental Return: 320

Description: A rare chance to secure this DA approved site in one of NSW's highest growth areas. The property is well located next to a TAFE college, hospital and Southern Cross University. This opportunity allows a savvy developer or investor to secure a boutique investment in a growing market that will provide strong positive cash flow and a high yield on completion.

A popular development concept throughout Sydney, and a perfect fit for meeting the needs of our local rental market. Situated between the CBD and Jetty precincts. Once complete the property will help to supply a much needed sector of our residential rental market. Coffs Harbour suffers from a persistent lack of affordable rental and student boarding accommodation. With some of the best education facilities available in a regional centre, affordable and modern rental properties for singles and couples is difficult to find.

Economical to construct and an attractive income potential, it's a first in providing a lower risk option for reliable income and depreciation for long term investors.

KEY FEATURES
- DA approved for 10 self contained studio apartments
- Estimated rental income ($/room): $300 per week
- Close to amenities
- Construction estimate: $920,000 - $950,000
- Zoning: R3 Medium Density Residential
- DA and plans available on request
- Current income: $16,640 per annum

AUCTION: This Saturday 28th August 2021 - ONLINE AT 11:00AM

To pre-register or to follow the live-stream of the auction please see the link below:
https://auctionnow.com.au/properties/74371

Land size: 500m2 (approx.) - Rates: $3,156pa (approx.)

DA approved 'next generation boarding house'...
$659,000

Contact The Edge Coffs Harbour Today!!!

Contact Adam Cross
Phone 0421 854 936

Property ID:280/21

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