18 McKenzie Street BROADFORD VIC 3658
$620,000 - $649,000

DESCRIPTION

Unlock the potential of this prime 1,229m2 parcel, presenting a golden opportunity for savvy developers. Boasting a current planning permit, this property is set to accommodate two additional 3-bedroom, 2-bathroom, 2-car garage, modern single-storey townhouses, enhancing the site's value.
The existing three-bedroom home has recently undergone renovations, featuring a modern kitchen with pantry and stainless steel appliances. The timber-look flooring throughout ensures low maintenance, while high ceilings add a touch of charm. Each bedroom is equipped with built-in robes and individual split systems, ensuring year-round comfort. The huge laundry with ample bench space, modern bathroom with an additional toilet, and a separate lounge with a reverse cycle split system contribute to the home's appeal.
This property is not only a family haven now, with a large level backyard and spacious rooms, but it also holds immense potential for future capitalization. Currently tenanted on a month-to-month basis, it generates approximately $23,400 per year (or $450 per week). This dual-yield scenario offers the best of both worlds – a reliable income stream with the existing tenant and the exciting prospect of increased yield upon construction of the new townhouses.
Seize this rare opportunity to capitalize on the current planning permit, whether you choose to develop and increase your rental income or explore the option of selling off the townhouses individually for maximum returns. Contact us today to arrange a viewing and embark on a promising investment journey! For more information, please call Gavin Henderson on Reveal Phone.