OUTSTANDING MULTI TOWNHOUSE DEVELOPMENT OPPORTUNITY
Here is your chance to pick the ripest cherry in the Springvale market with this currently tenanted home sitting on a prime easement-free 680m2 corner block. With a history of lucrative multi units/townhouse developments in the area, zone GRZ3 that allows 3 storey height townhouses, attached or semi-detached (STCA). It's the ideal time to pounce on this superb piece of land, and all the potential it holds to boost your property portfolio.
You'll enjoy the advantage of stable rental income with the existing tenant happy to stay as you work on your plan and permit. The home itself consists of a good-sized lounge area that easily connects through to the dining and kitchen spaces, all bathed in plenty of natural light. Two bedrooms and a bathroom with separate toilet complete the interior, along with split system heating and cooling. Outside there is also a deck with pergola.
It's all about location in the real estate game, and this property doesn't disappoint on that front. Situated within 10 minutes walking distance to Springvale station and Springvale Central, there's also an abundance of public and private schools nearby. With a number of large infrastructure plans in place for Springvale (for example, the Springvale Boulevard Project and the new Hyatt Place development), buy now and reap the long term capital growth rewards.
NOTE: the adjacent property at 17 Parsons Ave is also up for sale, providing a rare opportunity for savvy developers to buy one or both pieces of land. Combined land size is approx. 1340m2.