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Description: Team Warren proudly presents an exceptional residential and investment/development opportunity nestled in the heart of Mt Gravatt East amidst modern developments and residential homes. Due to changing circumstances, the owners are committed to selling this property brimming with potential.
Developers, investors, and homebuyers, take heed: this property boasts a remarkable 647m2 MDR (Medium Density Residential) level block in a prime location renowned for its outstanding capital growth. Recently renovated, it offers versatile living spaces across two levels, comprising a total of 3 toilets.
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THE UPPER LEVEL boasts an air-conditioned, spacious, tiled open-plan living and dining area, a renovated kitchen with stone benchtops and stainless steel appliances, 3 sizable bedrooms with downlights, built-in robes, and air-conditioning, along with a renovated bathroom featuring a toilet and a separate toilet. A delightful deck enhances family and entertainment needs, capturing refreshing summer breezes.
THE LOWER LEVEL features a generously sized tiled studio rumpus area flooded with natural light, a fully renovated bathroom, and a corner nook suitable for a kitchenette, perfect for a home office, a man cave, or a separate retreat for teenagers/guests/elderly with its own entrance.
The block also offers side access and space behind for an extra granny flat, if required.
Rental potential is strong, with a projected rent of $780 - $800 per week, offering cash flow to complement your investment growth.
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:: WHY SHOULD YOU CONSIDER THIS? ::
In addition to the aforementioned features, the property presents multiple options for homeowners, investors, and developers as outlined below. Full property zoning and an asset report are available upon request. -
Option 1 - DEVELOPMENT -
With its 647m2 corner block and Medium Density Residential (MDR) zoning, this property offers a prime development opportunity, to build apartments and townhouses, subject to council approval. Comparable blocks in the area have been successfully sold and developed, with Mount Gravatt experiencing consistent price appreciation.
Option 2 - INVESTMENT FOR CAPITAL GROWTH -
With a history of robust capital growth, particularly in anticipation of the upcoming Olympics in Brisbane, inner-city suburbs with easy access are poised for substantial price increases. The high rental return in a development zoned area ensures favorable cash flow to support repayments alongside significant capital growth potential.
Option 3 - RESIDENTIAL - WITH HOME-OFFICE, TEENAGER/ELDERLY/GUEST RETREAT.
The property's recent renovation and dual-level floor plan offer flexible living arrangements to suit any family's needs.
Option 4 - POTENTIAL TO REDUCE YOUR MORTGAGE - KEEP THE HOUSE AND BUILD ANOTHER ONE BEHIND ON A STRATA TITLE -
Prelim Town planner advice is that you might be able to save this house as is and build another one behind, subject to council approval. If you are able to achieve this then you can keep the house at the front as a rental/home and build one behind to sell and reduce your mortgage. Discuss this possibility with your Architect and Planner today.
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Situated within walking distance of Mt Gravatt Plaza, local shops, and schools, and close to Griffith University, Westfield Garden City, buses, cafes, and the Pacific Motorway, this sought-after location presents an ideal opportunity for your next home, investment, or development project.
As a QLD Registered Architect, Warren and his team are equipped to offer preliminary architectural, feasibility, and planning advice, along with contacts for additional support to kickstart your project.
Don't let this opportunity pass you by. Contact Team Warren today for further information or to make an offer.
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Disclaimer - This property is being without a price. The website may have filtered the property into a price bracket for website functionality purposes. All information and contained herein is gathered from sources we consider to be reliable. However we cannot guarantee or give any warranty about the information provided and interested parties must solely rely on their own enquiries. All info listed above require the buyer's own due diligence.
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