5 Peters Street

Coconut Grove NT 0810

Moments from Nightcliffs foreshore, this superbly situated property is packed with potential, perfect for first home buyers and investors looking to enter the market with a unique character rich timber Lockwood home with the land component providing enormous future upside with Low Medium Density (LMR) zoning also knows as multiple dwelling zoning. The multiple dwelling zone underpinning your investment into the future. Renovate or develop to add value. The property is set on a generous block on a quiet street close to local shops, parks and sporting fields, within easy reach of all of Nightcliffs attractions and amenities.

Unique ground level Lockwood timber home loaded with character and charm
A fantastic low maintenance first home or ideal Air BnB investment in this blue chip location
Fantastic long term upside with the multiple dwelling zoning to underpin your investment into the future
This property is ready and waiting to live up to its wonderful location close to so many attractions/amenities
Set on a fully secure fenced and gated block in very quiet setting
Bright, well-planned layout accented by vaulted timber-clad ceilings and slate floors
Open-plan living space centres home, overlooked by neat wraparound kitchen
Living space extends naturally to covered verandah
Large, covered patio adjoins verandah, framed by grassy yard and lush landscaping
Three bedrooms make up sleep space, each with built-in robe and glossy tiles
Functional bathroom features walk-in shower
Internal laundry conveniently located to offer yard access
Split-system AC units in every room ensure year-round comfort
Abundant secure off-street parking on driveway, with garden shed at rear

If youve been searching for something thats a little bit different loaded with future potential then this one should be high on your shortlist.

As is, the home is perfectly functional, and could easily accommodate you in comfort.

In terms of layout, the interior offers up a spacious open-plan living area, which feels light, bright and open thanks to its high ceilings. Connecting to an open-concept kitchen in a wraparound design, this space extends effortlessly to the outdoors, where you find a covered verandah and patio.

Overlooking a neat grassy yard framed by established landscaping, the alfresco living space functions nicely and holds just as much potential as the interior. What you choose to do here (if anything) is limited only by your imagination.

Back inside, three robed bedrooms, a bathroom and separate laundry complete the package. Abundant parking is provided on the expansive driveway.

Alternatively, given its multiple dwelling zoning, buyers also have the opportunity to add another dwelling or redevelop the block altogether with multiple 2 storey townhouses.

With local shops, eateries and parks on the doorstep, the property is also just five minutes from the beach, schools and other nearby attractions. A commute into the city takes just over 10 minutes by car.

The house needs to be seen to be fully appreciated. The land component to under pin your future, well that just makes sense.

Council Rates: $2,000 per annum (approx.)
Date Built: 1976
Area Under Title: 607 square metres
Zoning Information: LMR (Low-Medium Density Residential)
Leased: $580 per week to Jan 2025
Status: Tenanted
Building Report: Available on webbook
Pest Report: Available on webbook
Easements as per title: Sewerage Easement to Commonwealth of Australia