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Residential
124 Mein Street, Scarborough, QLD, 4020

Property details

  • Property ID:
    12477
  • For Sale:
    Offers Over $1 Million
  • Area:
    1214
  • Type:

    Residential: Apartment Sites, Units

  • Development Approved:
    16 units
Agency information
Catherine White
Mason Greiner

Overview

DA APPROVED 16 UNITS + OVER $53K PER YEAR INCOME CURRENTLY

You will not want to miss the opportunity to secure this 1214 sqm development block in one of Scarborough's best locations within walking distance to local cafes and the beach. 

The block currently has 4 flats with with stable tenants in place. With a solid investment opportunity, you have the option to land bank or build now. 

With DA approval for 16 units, this land will suit those buyers who are not wanting the hassle of DA applications and are ready to just build and sell or you also have the option to buy and hold. 

Current configuration:

  • 3 x 2 bedroom, 1 bathroom, 1 car flats
  • 1 x 3 bedroom, 1 bathroom,  1 car flat
  • Combined rental return of $1,040 per week or approx $54 080 per annum.

Development opportunity:

  • 16 units over 4 storys with potential beach views in some units
  • 9 x 2 bedroom, 2 bathroom apartments 
  • 7 x 3 bedroom, 2 bathroom apartments 
  • 29 car spaces 
  • DA is available upon request

Location:

Scarborough is bustling with local trendy cafes & restaurants, parks and beaches and is known for its scenic views across Moreton Bay. It provides a quiet ambience compared to the Redcliffe CBD allowing for a relaxed lifestyle for all ages. If you are not already a local, come and see why this is such a liveable area and why you won't want to leave.

  • 260 m walk to local Cafes & Restaurants 
  • 260 m walk to local parks & the beach
  • 300 m to Bus Stop on Landsborough Ave
  • 1.9 km to Scarborough State School 
  • 2.7 km to Redcliffe State High School

Call now for more information!

Remember to mention you found this property on DevelopmentReady.com.au

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