NewOpen For Inspection
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calling developers and investors --- the only bad time to buy real estate is later

36 Chester Terrace, SOUTHPORT QLD 4215

7
4
607 m²
Highlights

The current pandemic crisis has taught us a lesson or two on real estate. Buy now or you will regret it because the value of properties on the Gold Coast will continue to increase due to the demand of people moving to South-East Queensland. The Gold Coast has been an undervalued market for many years in compare to markets like Sydney and Melbourne. This property is situated in Southport the largest suburb on the Gold Coast with 38,000 people and 65% are renters and with those numbers to continuing to grow. Developers are snapping every block zoned for sub-division and amalgamating them for future high-rises. For the astute investors this is a no brainer, the current owner obtained Council Approvals for a boarding house and currently returning $1,490 per week from 7 individuals tenants on leases. Also, the property has approvals to add another 3 rooms and that will increase your weekly investments returns.

Developers: RD5 Zoning block of 607m – medium density up to 5 storeys
A number of townhouses STCA
2 Houses STCA
Amalgamate adjoining properties for a larger yield of units

Investors: Council approved as private rooms accommodation
7 Tenants on leases returning $1,490 per week
Council pre- approvals to add 3 more rooms increasing the weekly returns ( additional $250 per room). To proceed a BA (building approvals )
must be Lodged with Council
The investment also guarantees the current zoning of RD5 for future land banking

The Property features:
Double storey house north/south facing on a wide street residential area
7 bedrooms, 2 ensuited, 4 bathrooms and carport for 4 cars
3 bedrooms upstairs – 4 bedrooms downstairs
2 separate renovated shared kitchens
A large open plan living/dining upstairs with polished hardwood floors
2 Undercover balconies, upstairs and downstairs
Separate shared laundry – room for a pool
20 solar panels – electricity approx $106 quarterly

Home occupier or large families: The house will accommodate a large family
Dual living – 2 kitchens
Upstairs and downstairs living

Southport is the place to be: walking distance to G-link light rail, Australia Fair Mall, the Broadwater boardwalk, Ferry road shops and ideal for parents with kids attending the prestigious TSS School and St Hilda

WARNING: this market is hot, so must be quick. Call Antonio on 0449 694 858 for inspection times

Disclaimer: The above information has not been verified. We advise you confirm the accuracy of details before entering into a contract. Prestige Property Agents and its employees cannot be held responsible for any inaccurate details supplied here.

Offers Above $1,650,000

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Features

Property Features
  • House
  • 7 bed
  • 4 bath
  • Land is 607 m²
  • 4 Open Parking Spaces
  • 0