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I've Found the Needle in the Haystack.

I've Found the Needle in the Haystack.

Property ID: 935074

WEST HOBART 12 Watkins Avenue

Listing Rooms4
Listing Bathrooms3
Listing Parking9

Sold

Property Size: 232 sqm Land Size: 1159 sqm

Set on 1159sqm of land with two titles, so close to town, enjoying elevated views across the city, this authentic 1950's inner-city property was purposely built to not only accommodate its owner but to also provide two other purposely built one-bedroom apartments to provide lodging for those needing to rent in the area. The property is in very sound condition still retaining all the character features and hallmarks of its vintage. It hosts good tenants who have resided here for several years.

The property avails itself of the potential to subdivide with an opportunity existing to free up 600-700sqm for development (STCA). The possibility of making a boundary adjustment/variation between the existing Titles creates an even more realistic chance to utilise this vacant space.

Here lies an opportunity for the astute investor/developer to acquire one of the few remaining inner city properties which not only provides a sound investment income but also the chance to un-tap 600-700sqm of developable land. A find like this could be compared to locating that elusive needle in your haystack.

The icing on the cake is that the property is within a comfortable walk of the CBD and North Hobart's restaurant strip.

Inspection by appointment only.

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Suburb Profile

Median House Price

843000

Suburb Growth

16%
Peak Sale Month - February
Peak Sales - 9