42 Sutherland Street, Kingscliff
Sold for $ 1,065,000
Kingscliff Hill Flats-Ocean views House - Property ID: 783755
Located less than 500m to beach, coffee shops and estuary on Kingscliff Hill this fully let block of flats offers many options:
- Currently partly renovated and fully let returning $58,000 gross per annum
- Renovate units as they become vacant and obtain todays market rent approx. $67,000 to $70,000 per annum approx.
- Take advantage of D.A approval for 7 luxury ocean view units and redevelop into 2 top level penthouses (3 bedrooms 2 bathrooms), 4 townhouses (2 bedrooms 2 bathrooms ),1 1 bedroom apartment. Full set of plans and development consent available and valid till 7/7/2019
Land is 683m2 zoned medium density (17.09 X 40.23), 2 street frontage to Sutherland St and Hungerford Lane.
Water rates: $1390
Common Power $2400 per annum (Hot water only)
Current Annual rental $58,750