This property is located in one of the most vibrant streets of Glenfield, which is also a bluechip area being so close to the Smales Farm Business hub. It is within walking distance to supermarkets, restaurants and cafes, motorway access and the shopping centres are minutes away. The school zones include Westlake Boys & Girls High Schools, Glenfield Intermediate and Sunnybrae Normal School. Under the unitary plan this property is zoned ?Mixed Housing Urban' which allows higher density development. The existing house is at the very end of the section, so there are options to build one or more townhouses in front and keep the existing house (subject to council approval).
The existing house is a large 5 bedroom, 3 bathroom dwelling. It is partitioned into 3 bedrooms, 2 bathroom on the first floor plus 2 bedroom, 1 bathroom on ground floor. Both levels have their own living areas and separate access. The owner is currently living in the first floor and getting $550 per week (water included) from the ground floor. The land in front is not sitting idle either. It is leased to a car parking company and generating $650 per month. This property is a jackpot in today's market! You can either receive a stable cash flow from it while capitalizing on the capital gains over the long term, or build more houses on the land now and unleash its true potential. The choice is yours. Either way, this property is a great investment!
My vendor is realistic! This property will be sold. Don't hesitate. Call me to view it today or come to my open homes.