6 Richards Street, Loganlea, QLD 4131

Price: Offers Over $1,295,000

  • hotel 7
  • hot_tub 4
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3760m2 Cash Flow Positive, Development Site With Existing House & Unit

47886


Enviably situated on a wide tree-lined street, this dual driveway, architecturally designed property located at 6 Richards St, Loganlea is for sale. With a shortage of accommodation in the Logan area this represents an exciting opportunity for an astute buyer to maximise their profits whilst earning a cash flow positive income from the existing, partly renovated, 3 bed, 1 bath unit & 4 bed, 3 bath house.

You may just chose to sit on a cash cow and reap in the profits. You can easily net over $2,000 per month and just wait for the prices to skyrocket. We are tucked in a quiet area of Loganlea with a short walk to shops, library, Aldi, transport etc.

You would need to speak to a town planner as for opportunities on the property. The last time we spoke to council they were talking units, townhouses, dual occ etc.

Due to health we have decided to move to the country. We completed the subdivision on the front of the block, now with 2 road frontages it's up to you to reap in the profits and finish the subdivision off.

Development and renovation used to be our business so we know how much profit this property can make for the right investor. This time we can not do a joint venture as we need the money to buy the next property.

The house with generous proportions and a versatile floorplan, currently comprises of a central open plan dining/kitchen (equipped with double oven and dishwasher), an adjoining large family room, separate office/informal living warmed by a double glass ornate fireplace, main bedroom with huge robe, ensuite and built-in cupboard, a further two double bedrooms with built-in robes, 2 bathrooms with toilets.

Completing this home is a 4th bedroom, separate laundry, ample storage throughout, off street parking for up to twelve cars, and a huge open front deck area overlooking the lush green lawn and frog pond. Double garage and workshop, other sheds etc.

The unit was completed 2 years ago with new furnishings. A huge carpeted room downstairs, 2 small bedrooms upstairs, with bamboo flooring. New kitchen and bathroom.

The pool was working however as was not being used is now filled with mosquito eating fish and huge Blue Claw (byo pot). The pool needs to be filled in and tennis court resurfaced or bulldozed. 2 x 6.5 kw Solar Panels. & Solar hot water.

Email me for more info, the feaso and monthly return on investment. Make sure you do your own diligence, these are just for my info.

Disclaimer:

Whilst every care has been taken to verify the accuracy of the details in this advertisement, For Sale By Owner (forsalebyowner.com.au Pty Ltd) cannot guarantee its correctness. Prospective buyers or tenants need to take such action as is necessary, to satisfy themselves of any pertinent matters.

Contact the Owner

Mobile: 0488 849 770
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View Original Listing: For Sale By Owner