Warners Bay 67 Medcalf Street
1012sqm Parcel of Land – A Solid Investment and Primed for Development
Just 400m from the shores of beautiful Lake Macquarie and the buzz of Warners Bay's waterside dining and shopping, this original lakeside residence is positioned on a level quarter acre block. Currently configured as three 2-bedroom flats, it presents as a solid investment returning a combined $39,260 per annum when fully leased, and all separately metred for power and water.
The true value however is in the land. The 1,012sqm parcel with frontage of 20.115m is primed for development. Realise your dreams to build a luxury new home or take advantage of the R2 Low Density Residential zoning and build multiple residences, subject to council approval.
This highly convenient location is just 170m from Biddabah Public School and 1300m from Warners Bay High. Warners Bay Private Hospital is an easy stroll away and there is bus-at-door convenience to Glendale, east Lake Macquarie and Wallsend.
- Single level clad home on 1,012sqm with approx. dimensions of 20.115m x 48.8m
- Each flat features two bedrooms and original kitchen and bathroom spaces
- Unit 1 returning $245 per week currently vacant, Unit 2 $250pw and Unit 3 $260pw
- Total of $755 per week, all separately metred for power and water
- Handy location strolling distance to schools, transport and everyday essentials
- Entry level opportunity to live by Lake Macquarie
Sold $655,000
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Property Information
- Land area approx 1012sqm
- Council Rates $751.32/year
- Water Rates $2600/year
Property Features
- Air Conditioning
- Close to Schools
- Carpeted
- Close to Transport
- Close to Shops
Local Information Warners Bay
- Government Schools
- Independent Schools
Primary
- Biddabah Public School
- Warners Bay Public School
- Speers Point Public School
Secondary
- Warners Bay High School
- Lake Macquarie High School
- Cardiff High School
Special
- Five Islands School
- Newcastle Junior School
Primary
- St Mary's Primary School
- St Kevin's Primary School
- Holy Cross Primary School
Secondary
- St Paul's Catholic College
Special
- Aspect Hunter School, Cardiff Satellite