FOR SALE
$1,050,000

24 Hill Street
Coffs Harbour NSW 2450

Bedrooms: 7
Bathrooms: 2
Car spaces: 4
Land area: 1012m2
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INVEST FOR THE FUTURE

This prime investment opportunity in Coffs Harbour is just a short stroll from the CBD and offers incredible potential for both immediate rental income and future development. The property spans 1012m² and is zoned R4 High Density, making it ideal for future projects such as apartments or townhouses.
Currently, the property features dual occupancy with two well-maintained villas. The first villa includes three bedrooms, one bathroom, and two car spaces, and is rented for $530 per week. The second villa has four bedrooms, one bathroom, and two car spaces, generating $620 per week in rental income.
The total rental income of $1150 per week provides a 5.7% gross yield. With its mostly level block and convenient rear lane access, the property is perfect for future development plans whilst still attracting a good rent return.
Situated within walking distance of the Coffs Harbour CBD, this property offers easy access to shopping, dining, and entertainment, enhancing its attractiveness for potential future residential projects.
This exceptional property is a rare find for investors looking to secure a foothold in a rapidly growing area with significant future capital growth potential. Invest in your future with this prime Coffs Harbour property and watch it grow.
Council Rates: $5535.00 Per Annum

Property Details for 24 Hill St, Coffs Harbour

24 Hill St, Coffs Harbour is a 7 bedroom, 2 bathroom House with 4 parking spaces. The property has a land size of 1012m2. The place is currently for sale with PRD Real Estate Coffs Harbour.

Building Type
House
Land Size
1012m2

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About Coffs Harbour 2450

The size of Coffs Harbour is approximately 46.3 square kilometres. It has 52 parks covering nearly 16.3% of total area. The population of Coffs Harbour in 2011 was 24,581 people. By 2016 the population was 25,746 showing a population growth of 4.7% in the area during that time. The predominant age group in Coffs Harbour is 50-59 years. Households in Coffs Harbour are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Coffs Harbour work in a professional occupation. In 2011, 55.7% of the homes in Coffs Harbour were owner-occupied compared with 56% in 2016.

Coffs Harbour has 16,669 properties. Over the last 5 years, Houses in Coffs Harbour have seen a 63.09% increase in median value, while Units have seen a 45.01% increase. As at 31 October 2024:

  • The median value for Houses in Coffs Harbour is $775,432 while the median value for Units is $507,938.
  • Houses have a median rent of $640 while Units have a median rent of $500.
There are currently 246 properties listed for sale, and 160 properties listed for rent in Coffs harbour on OnTheHouse. According to CoreLogic's data, 589 properties were sold in the past 12 months in Coffs harbour.

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Sean Campbell
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