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Overview
River Avenue, Block of units with a higher than average return and growth opportunity
Discover an exceptional investment opportunity at 60 Barton Road, Hawthorne, Queensland, offering a compelling blend of current income and future redevelopment potential. This north-south facing brick block of units is situated on a substantial 810 square meter lot, providing both stability and promising growth prospects. The property comprises two two-bedroom and three one-bedroom apartments, making it a versatile asset for investors.
Key features of this property include its zoning under LMR2, allowing for a 2 to 3 storey mixed development, which presents significant potential to recreate a new long-term negatively geared asset. The block currently generates a net income of $117,492 annually, supported by a 12-month statement, highlighting its strong cash flow. Additionally, there is the possibility to subdivide the land into two or more lots, subject to council approval, enhancing its redevelopment options.
The property boasts a 20-meter frontage on a north-south facing block, located in the highly sought-after river avenues of Hawthorne, an area known for its high growth. This rare opportunity to secure a unit block for long-term holding is further enhanced by the potential to increase returns by adding additional units, subject to town planning and council approvals.
Internally, the units have been recently updated to maximize comfort and rental returns. They offer a blend of simple modern living with quality solid brick construction, ensuring durability and low maintenance costs. The interiors have been thoughtfully renovated to appeal to tenants seeking comfort and style, making these units attractive rental prospects.
Residents benefit from five secure oversized garages and ample off-street parking, providing convenience and peace of mind. The generous 19.9-meter frontage is complemented by lush gardens, contributing to a serene and welcoming atmosphere that offers tenants a tranquil retreat within a vibrant suburb.
The Hawthorne River Avenues area is recognized as a high-growth location, presenting an attractive proposition for investors and those seeking a sound asset. The property's enviable proximity to local amenities, schools, and transportation options further enhances its appeal, making it an ideal investment choice.
This investment offers a unique combination of stable income, redevelopment potential, and location advantages, making it a compelling opportunity for discerning investors looking to capitalize on the growth and lifestyle benefits of Hawthorne.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Hawthorne QLD 4171
Market Insights for Hawthorne QLD 4171
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