Truly Rare Find! Block of Units + 878m2 Development Site
38 Ilya Street, MacGregor
******** UNDER CONTRACT by Tom Zhang ********
An extremely rare opportunity: 38 ILYA ST, MacGregor. A truly rare find a Block of Units is NOW available to purchase, the massive building size of around 52SQ or 485m2 in building area.
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....
Lot/Plan No: 113/RP118139