5 Woodbell Street

A rare and compelling opportunity to secure a substantial multi-dwelling holding in the highly sought-after seaside township of Nambucca Heads. Comprising 12 cottages and flats with secure tenancies in place, this property delivers immediate income with significant upside. Currently generating good returns from nine tenanted dwellings, but there remains outstanding potential to further enhance returns, with long-term tenants in place and rental increases yet to be realised. The current owner occupies the upstairs unit and downstairs bedsit, with an additional cottage utilised by the family, offering flexibility for owner-occupiers or investors alike. Originally constructed in the 1960s70s, approximately 90% of the property has been tastefully renovated, including major infrastructure upgrades such as external water mainsproviding peace of mind and reduced capital expenditure. Set on an elevated 2,608sqm (approx.) sloping block, many of the solid double-brick units capture stunning river and ocean views, adding strong lifestyle appeal for tenants and future buyers. This is a versatile asset with multiple pathways for future growth: - Retain as a high-yield investment - Live on-site while generating income - Explore strata subdivision potential (STCA) - Sell down individual dwellings over time - With a potential rental income $264,680 pa Ideally positioned within 500 metres of key lifestyle amenities, including boat ramps, waterfront boardwalks, cafés, shopping, cinema, and the renowned Nambucca Heads Island Golf Club, the location further enhances tenant demand and long-term value. With the upgraded highway, Coffs Harbour is just a convenient 30-minute drive away. Property Highlights: - 2,608sqm (approx.) elevated site with sweeping ocean and estuary views - Diverse income stream across 12 dwellings: - 1 x 3-bedroom apartment - 2 x 1-bedroom units - 2 x 2-bedroom units - 3 x bedsits - 1 x 34 bedroom cottage - 3 x additional cottages (varied configurations) - Communal laundry, large storage shed, allocated parking and garage - Zoned R3 Medium Density with 10m height limit With strong income, prime location, and exceptional development potential, this is a standout opportunity in a growing coastal market where demand continues to outpace supply. Location, views, income, and future upside this one has it all. Disclaimer: All information contained herein is obtained from property owners or third-party sources, which we believe are reliable. We have no reason to doubt its accuracy; however, we cannot guarantee it. All interested person/s should rely on their own enquiries.