6 Edward Street, Kingswood
SOLD!! House - Property ID: 882705
Combined R3 site of 1309sqm’s and, subject to council approval (STCA), allows for many different development options such as townhouses, childcare centres, retirement & over 55’s complexes, and much more. The site is a few hundred meters from the entrance of the University of Western Sydney Kingswood Campus, approximately half a kilometre from Kingswood Station, and approximately 1km to the Nepean Hospital.
4 Edward Street holds a very neat and tidy 3 bedroom home with a garage and carport which could be easily leased without having to spend a cent.
6 Edward street has a slightly bigger home with 4 bedrooms, 2 living areas and renovations to most of the home, once again making this investment perfect and low risk.
The approximate combined rental return for both properties would $3800 per month.
Even more interesting is the development application lodged with Penrith council for next door, at number 2 Edward street, for a 16 room boarding house on a block which is only 639sqm’s. Rooms in these boarding houses rent mainly to university students and Nepean Hospital staff for approximately $230 per week - per room. That’s a massive potential rent return of $3680 per week from a development on an R3 zoned block of only 639sqm’s in size. Imagine the possible rent returns of a similar development on a 1309sqm parcel of land. This development application is not the first of its type put before council and with demand for this type of rental accommodation growing in the area (particularly from the expansion of the University and Nepean Hospital ) there is an obvious need for such developments.
Both owners are open to delayed settlements of up to 12 months, perfect for any developers or investors looking into the council approvals to maximise their investment.
If you need time to sell another property feel free to contact the agent Richard and Andrea on 0425 303 324 to find out how
All information contained herein is gathered from sources we believe to be reliable. We cannot however guarantee its accuracy and interested parties should make and rely on their own enquiries.