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SOLD

515 Milton Road, Toowong, QLD, 4066

Properties / Sold / Queensland / Toowong

Development Potential

1. Property Summary

Property Type

Residential

Sub Type

Apartment Sites, Townhouse Sites

Land Area

1,215 m² (*approx)

Selling Method

For Sale: Contact Agent

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2. Property Highlights

1215M² ON 3 LOTS

Five self-contained Flats: 1 x 3 bed & 4 x 2 bed.
1215 square metre corner allotment on three lots.

This property situated on the corner of Milton Road and Eldridge Street Toowong is conveniently located within walking distance to many amenities including transport, shops and schools.

Zoning: Character Residential CR2 Zone

Gross Rental Income of $72,800 per annum is definitely on the lower side of the rental market in the Toowong locality and the shrewd investor is sure to capitalise on this opportunity to increase yields together with the options of further development of this site.

The property offers a number of options for the new buyer as the property is a corner property with three lots:

Re-align the boundaries of the current lots,
Building on the corner allotment,
Selling the corner allotment,
Further development on the site,
Other options are listed in the Town Planner’s report that is available on request.

For more information or to organise an inspection please contact the Drakos Team today.

Inspections strictly by Appointment Only.

Remember to mention you found this property on DevelopmentReady