87 Crescent Road

A secure holding offering high returns and endless options in a prestigious position atop Hamilton Hill, this six-unit complex presents an outstanding investment or redevelopment potential on an expansive 888sqm allotment. Generating weekly returns of $2,835 and annual gross returns of $147,420, this solid income-producing asset offers an excellent opportunity to landbank and continue renting the strata-titled building, comprising 1x two-bedroom units and 5x one-bedroom units. With options available to redevelop the site now or in the future, buyers have the potential to utilise existing concept plans and construct multiple luxury tri-level townhouses or design their own multi-dwelling development (STCA). Alternatively, families can embrace the beautiful river breezes, exquisite city views and enviable hillside position and build an opulent dream home only footsteps from the scenic riverfront, Ascot State School and lifestyle precincts (STCA). Property highlights include: - Strata-titled 6-unit complex on an 888sqm allotment zoned LMR2 - Weekly income $2,835 and annual gross returns $147,420 - 1x 2-bed, 1-bath, 1-car units and 5x 1-bed, 1-bath, 1-car units - Each unit features a patio, living area and functional kitchen with a freestanding cooker - Good-sized bedrooms, tidy bathrooms, lock-up garage, internal or shared laundries - Option to landbank and continue renting the fully tenanted complex - Potential to construct a luxury family home or multiple dwellings (STCA) - Concept plans available for a tri-level townhouse development Boasting a premier position and elevation on Hamilton Hill, buyers can take advantage of this exclusive riverside precinct. The famous riverwalk is 500m away, shopping and dining are 1km away at Racecourse Road, and Portside Wharf features cafes, restaurants, Woolworths Metro and Dendy Cinema 2km away. Crosby Park, Northshore Tennis Centre, Royal Queensland Golf Club and the racecourses at Eagle Farm and Doomben are moments away for fun and recreation, and this site is only 5km from the CBD and 10km from Brisbane Airport. Ascot State School and private colleges are nearby, bus stops, Bretts Wharf ferry and Ascot train station provide excellent public transport, and Kingsford Smith Drive, Gateway Motorway and the Airport Link Tunnel are easily accessible for quick travel to the city, airport and coast. Disclaimer This property is being sold by auction or without a price and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes Disclaimer: We have in preparing this advertisement used our best endeavours to ensure the information contained is true and accurate, but accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies or misstatements contained. Prospective purchasers should make their own enquiries to verify the information contained in this advertisement.