18-20 Edna Street, Kingswood
Expressions of Interest
R3 zoned 1615sqm site House - Property ID: 949643
Combined R3 site of 1615sqm’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. Local architects have outlined the site may hold up 6-9 units/townhouses on this site alone STCA. 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.
18 Edna Street holds a large and very well built 4 bedroom home with 2 bathrooms, double garage, air conditioning, 2 living areas and pergola area which could be easily leased without having to spend a cent or possibly even divide for dual income STCA.
20 Edna Street is a modern 3 bedroom home in a very good condition with a pergola area and easy maintenance yard, once again making this investment perfect and low risk.
The approximate combined rental return for both properties would be approx. $4300 per month.
Even more interesting is the recent development applications approved in the area for boarding house development. Boarding House developments are being approved in the immediate vicinity to the University and some have been approved for up to 22 rooms on one block. These boarding houses rent mainly to university students and Nepean Hospital staff for approximately $230 per week - per room. Around the corner on Edward street a boarding house has been approved for 16 rooms on a 639sqm block. That’s a massive potential rent return of $3680 per week. Imagine the possible rent returns of a similar development on a 1615sqm parcel of land. This development is not the first of its type, to be specific 53 Second avenue, 10 Manning street and 2 Edward street to name a few, 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 18 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 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.