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Well located in sought after South Launceston,this attractive home has a huge amount of potential.Currently tenanted for $360 per week,this property has the added bonus of a second income of $175 per week coming from the large garage located in the rear yard.This is a return of $27,820 per annum.
The large 1187m2 block has been fully council approved for a 2-lot sub-division,with the new owners having the ability of building a further townhouse with an opportunity of increasing their return by a further $400-$450 per week. This would be a yearly return of approx $50,000.
The home is 1939 circa with modern features throughout,but still retaining all of its post war features.The home has a versatile footprint that can either be 3 or 4 bedrooms depending on the vendors need.There is a very stylish bathroom,plus the bonus of a secondary toilet.The kitchen is of a good size and will accommodate a small dining table.
Outside there is a huge garage of approx 150m2 plus a large carport of 80m2 attached.This is under a different lease.
For the astute developer this could be dismantled and with further vacant land behind the garage developed into townhouses.This would give the new vendors a fantastic investment portfolio.
With its desirable location,just a short stroll to the Launceston General Hospital,cafes and restaurants that are available in Charles St,a development on the 1187m2 block would be sensational.
Please call Wayne on 0418504742 as i would love to show you thru this little gem in Gee Street.
Land Size: 1187m2 approx
Building Size: 111m2 approx
Local Council: Launceston
Year Built: 1939
We have in preparing this document used our best endeavours to ensure the information is true & accurate. Prospective purchaser are advised to carry out their own investigations