54 Hillcrest Avenue, South Nowra
P: 02 44430242
M: 0455 544 228
A perfect investment - house with $700 pw rental potential + the option to develop 5 x 2 brm villas (STCA)
4 2 4
For Sale - Contact Agent
54 Hillcrest Avenue, South Nowra is located in a prime strip that is undergoing medium density redevelopment. The property is near to numerous current villa developments, all of which prove the popularity of this street with buyers.
The property currently has a house with pool and good sized yards on the land. A development application has been lodged with Shoalhaven Council to partition the house into one 1 bedroom unit and one 3 bedroom unit. Based on comparable dwellings in the street, once completed, the two units will have combined rental potential of up to $700 per week.
The current owner will sell the property with the DA for the two units approved, however the property may also be purchased "as is". Plans for this DA are available to serious parties, as well as any associated documentation.
In addition, the current owner has has "pre-DA" meetings with Shoalhaven Council regarding a proposed development of 5 x 2brm units - giving the site development potential now or in future. Concept plans for such a development are available as well as other associated documentation - again to serious parties.
Overall therefore, 54 Hillcrest is a very attractive investment opportunity for these key reasons:
- buy into a fast changing, high growth corridor of South Nowra
- have the option to convert the existing house into two units and create an attractive rental property with good holding income
- develop the site (now or in future) into 5 x 2brm units, subject to Council approval
- deliver a product to the market (2 bedroom units) that are very affordable and in high demand with first home buyers, down sizers, or the elderly
The land size is 1,329m2, zoning is R1 General Residential.
Inspection is by appointment only. Please contact Craig McIntosh on 0455 544 228.
|Land Size:||1329m² approx.|
|Zoning:||VGA land value is $138,000|
Or By Appointment