38 Ilya Street

Macgregor QLD 4109

You are not just buying all the units (the whole building), but more importantly its freehold one title land with no body corporate which is fantastic.

Strategically situated on an 878m2 corner block with an extra extensive frontage on two streets of around 77 meters in total.

Current zoning for this land is Residential B R3 meaning low to medium density residential with 2 or 3-storey mix zone; such an incredible attribute is a truly rare find with exceptional development potential.

According to the professional town planner's in-depth preliminary investigation, by removing the existing building, this development site can reach its full usage and development potential, with sketched concept design for proposed development of building around 12 units subjected to council's approval. Spanning three levels above the ground includes 9 X two bedroom units + 3 X one bedroom units and 19 basement car park spaces.

There are also many other potential uses for this block subjected to council's approval. Of course, the land also has potential for subdivision.

In its current state: 3 units in total with its separated entries, including Unit 1: 3 bedrooms, air-conditioned living and dining with kitchen, a bathroom, 2 car accommodation downstairs. Unit 2 & 3 are same, 2 bedrooms, air-conditioned living and dining with kitchen, a bathroom, one car accommodation downstairs. Downstairs, there is a lot of usable space for storage, multi-function or other use. So in total, 7 bedrooms, 3 bathrooms, 4 car garage.

This is a brilliant investment opportunity, super convenient location, stress-free investment as well as for living in. Easy to rent out with substantial rental return offset the mortgage, also huge development potential.

Situated in a superbly convenient location, with walking distance to Mains Rd for city express buses; easy access to the Brisbane CBD with the freeway only minutes away. 6 min drive to QEII hospital and Griffith University, 5 mins drive to the Garden city shopping centre, and just minutes from Sunnybank Major Shopping and Business Precinct, including Sunnybank Plaza, Market square, time square you name it.


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