Floor plan
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Discover an exceptional investment opportunity with this prime development site located at 27-29 Spruhan Ave in Norlane. Spanning a generous 1,664 m?, this property comes with approved plans for 8 townhouses, making it an ideal choice for developers seeking to meet the growing demand for modern living spaces in the area.
Both properties are currently rented out, providing immediate cash flow while you prepare for development. This ensures you can start your investment journey with a solid foundation, allowing for a seamless transition from rental income to development.
The location is key, with the property situated close to a range of amenities, including schools, parks, public transport, and shopping centers. This convenience makes it an attractive option for future residents, enhancing its appeal and potential resale value.
With two separate titles, you have the flexibility to explore various investment strategies, whether you choose to develop both properties simultaneously or at different stages. Don?t miss out on this unique opportunity to invest in a thriving community with significant growth potential.
Key Features
Development Approved: Plans for 8 townhouses in place.
Spacious Block: 1,664 m? lot size.
Dual Titles: Two separate titles for flexible investment options.
Current Rental Income: Both properties rented out for immediate cash flow.
Prime Location: Close to schools, parks, public transport, and shopping centers.
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.37 km | 2 | 1 | -m2 | Year 2024 Month 12 Day 10 | - | Council approved | |
 | 0.48 km | 3 | 2 | -m2 | Year 2024 Month 10 Day 31 | $520,000 | Council approved | |
 | 0.76 km | 3 | 1 | -m2 | Year 2024 Month 09 Day 17 | $385,000 | Council approved | |
 | 0.60 km | 8 | 4 | -m2 | Year 2024 Month 08 Day 23 | $780,000 | Council approved | |
 | 0.74 km | 3 | 1 | 597m2 | Year 2024 Month 08 Day 06 | - | Council approved |