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Overview
This unique property at 320-322 Park Avenue in Kotara presents a compelling development prospect, situated on a substantial 1,991 square metre site, with an impressive 34.1-metre frontage and designated for R2 low-density residential development. The dual-house offering comprises two distinct weatherboard homes, each contributing valuable lifestyle and income potential.
The first residence, at number 320, is a comfortable three-bedroom home complemented by a sunroom, providing an open and versatile living space. This home features a spacious living and dining area, supplemented by a rear rumpus room ideal for family activities or entertainment, along with a secure lock-up garage enhancing convenience and security.
Next door at 322 Park Avenue, the second weatherboard home includes three bedrooms and a dedicated study space, catering well to those working from home or requiring additional functional rooms. The separate lounge and dining spaces, alongside a family room, offer multiple living options and improved flow. A renovated kitchen stands as a modern focal point, while off-street parking addresses practical needs effectively.
The combined configuration provides investors or developers a dual advantage to attract rental income through tenancy arrangements, while also pursuing development approvals (subject to council consents). This presents a rare opportunity to balance immediate returns with future capital growth potential in a desirable location.
This property is likely attractive to families seeking flexible living arrangements, investor-developers aiming for a redevelopment project, or buyers looking for a secure long-term investment with varied income sources. The expansive land size and low-density zoning provide scope for creative planning and enhancement, aligning with evolving housing market demands.
Local Market Insights
In Kotara, Quiet Listings observed 8 new houses entering the market over the last 30 days, down from 20 during the previous 30-day period, with an average advertised asking price of $1,179,375. The property type mix of listed properties is predominantly Houses at 45%, followed by townhouses (15%), and villas (10%). Ray White was the most active agency in this area, representing 23.5% of all new listings in the last 30 days. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
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
Kotara NSW 2289
Market Insights for Kotara NSW 2289
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