Entire apartment block - solid returns and enormous development potential

On offer is this exceptional opportunity for developers or investors to secure a quality security complex of 20 apartments consisting of 45 bedrooms, 26 bathrooms and 28 garages close to the heart of Croydon's village and transport hub. The property offers a superb income generating prospect with returns of approx. $570,000pa and potential to increase revenue through renovation or further development (STCA).

* 5 x three-bedroom & 15 x two-bedroom apartments to be sold in one line
* A solid four-storey building with basement carpark and lift access
* Scope to develop to fully capitalise on new zoning (STCA)
* Zoning allows for an eight storey, 40 unit contemporary development
* Current zoning R1 residential with an FSR of 3:1