Multiple possibilities await the astute buyer looking for a property with a dual-living option, top rental returns and development/land banking potential in a high-growth area. It is currently configured as a three bedroom plus two study house with a one bedroom granny flat attached.
It is rented to two separate tenants...
House: three bedroom plus two study home
- each study with separate external access
- generous living areas with polished hardwood floors
- off-street parking for four cars including carport
- additional external toilet and lockable storage shed
- fully fenced and pet-friendly
- market rent $440/wk
Granny Flat: open plan living with separate bedroom, ensuite and laundry
- carport and lockable storage shed
- fully-fenced and pet-friendly
- rented at $260/wk
Other options for this property include:
1. Take advantage of the separate external entries, ample parking and location by offering the main house as a dual-purpose home business plus two or three bedroom dwelling, which was the original use of the design. The estimated return for this option raises the rent for this section to $560/wk, bringing the total return to $820/wk.
2. Reduce your mortgage repayments by renting out one side while you live comfortably in the other.
3. Move in with your large or extended family. Put the grandparents or millennial in the granny flat and use the two studies as extra bedrooms.
4. Redevelop this RD3 zoned site. Make use of the extra wide 22m street frontage and replace the existing structure with two new single or double-storey dwellings (or more with council approval) for profit in a popular area.
Walking distance to:
- Coombabah State Primary School
- Pine Ridge Conservation Park (directly opposite)
- garden centre with cafe
- public transport
- BLK Performance Centre (formerly known as Runaway Bay Sports Super Centre)
A short drive to:
- Runaway Bay and Harbourtown Shopping Centres and the newly opened Hope Island Marketplace
- Griffith University
- Gold Coast University Hospital
- Runaway Bay/Paradise Point Broadwater and cafe district
- Gold Coast beaches
With possibilities like this, don't expect this property to sit around.