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Medium Density Development Opportunity

One for the eagle eyed investor, keen to snap up a property full of potential. This attractive worker's cottage was built around 1960 and features 2 bedrooms plus a sleepout or teenager's room, welcoming open plan living area and polished timber floors.

Located just behind the popular Rick's Garagethis property is just steps from the heart of the iconic railway town of Palmwoods on a 637m2 block zoned medium density. With business thriving in town and a potential new large chain supermarket in town in the final approval stages, there will be consistent ongoing demand for rental properties. Add this to the convenience of being within walking distance of both bus and train, a great range of eateries and coffee shops, close to public sporting facilities like the pool, tennis, cricket and bowls clubs, school and day care facilities.

Initial planning enquiries indicate the following configuration options my be possible STCA

  • Subdivide into 2 blocks
  • 2.73 to 4.56 one bedroom dwellings;
  • 1.91 to 3.19 two bedroom dwellings
  • 1.42 to 2.36 three or more bedroom dwellings; OR
  • A combination of the above

Features we love:

  • Light bright and airy workers cottage, decorated in neutral tones
  • 2 bedrooms plus a sunroom for office, 3rd bedroom or teenagers retreat
  • Air conditioned main bedroom, security screens and ceiling fans throughout
  • Retain the original home and enjoy the rental income of $600 per week
  • Walking distance to train and bus stops and just minutes to the highway
  • Easy access to schools and day care as well as community sports facilities

Contact the agent for further planning information. This property is tenanted and inspections are by appointment only.

2 1 1
Address 3 Mary St, Palmwoods
Price Buyers in the Mid $800,000's
Property Type Residential
Property ID 1592
Category House

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Agent Details

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Fiona Gregory

0431 366 364
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