47 Hedley Avenue, NUNDAH QLD 4012
Price Reduction $1,800,000
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- 18 Apr 2017
Motivated Seller! Take this 6 unit block to 8 Large Unit!
With no strata fees and a current annual rental income of $92,500 offering over 5% annual return, this property offers an excellent passive investment with a quality unit development opportunity for the astute investor either now or in the future.
47 Hedley Avenue, is a six pack unit complex on 827 m2 with approved DA to increase and vastly improve this original unit block to a contemporary and unique 8 unit block encompassing the privacy, aesthetic and environment standards of Brisbane's City Plan.
Individual units have been designed to allow for more living space, contemporary kitchen and bathrooms and indoor-outdoor flow.
- Specifically, the current 6 units comprise of 2 x (1 Bedroom + 1 Bathroom + 1 Carpark) + 3 x (2 Bedroom + 1 Bathroom + 1 Carpark) + 1 x (3 Bedroom + 1 Bathroom + 1 Carpark)
- With the Development Approval, the block will transform to 8 units comprising of 5 x (2 bedroom + 2 bathroom + 1 carpark) and 3 x (3 bedroom +2 bathroom + 2 carpark) units.
- Specifically, the DA enables the internal size of the block to increase by 65%, decking to increase from 6 m2 now to 185 m2, and the current 6 car spaces to increase to 11 with a visitor car space.
- The units will be sold strata titled, enabling an investor to sell and gain, sit and forget or a blend of both investment strategies.
Hedley Avenue is one of the loveliest streets in Nundah with many of the original homes and blocks undergone transformation and improvement. Directly across the street from 47 Hedley Avenue, is Albert Bishop Park, a substantial sized community and sporting parkland facility for cycling, football, playgrounds, off leash and habitat restoration.
Median Nundah unit price is currently $ 415,000, with Nundah unit capital growth tracking at 5.88%.
This is an undeniably an outstanding investment.
Please contact Margo McLay to discuss and to view the property.
1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information
47 Hedley Avenue NUNDAH