This property is a house situated in 117/LP53111 Mooroolbark VIC. It has an estimated value of $780,000. Constructed in 1950, it has 3 bedrooms, 1 bathroom.
DD08 Development Delight CT Real Estate is proud to present 5 Morelle Court, an amazing opportunity for subdivisions and redevelopment in a fast growing suburb of Mooroolbark. The property comprises a decent landholding of approx. 864 sq m and approx. 18.29 m frontage to quiet Morelle Court. It is also zoned within General Residential Zone 1 and comes with a favourable DD08 Planning Scheme, that allows for boutique townhouses development (STCA) within a locale that has been encouraged for additional density to cater to the growing population. Set within the backdrop of the Dandenong Ranges, this property also enjoys plenty of local amenities close by. With initial architectural schemes readily available for review, this provides an amazing opportunity to conduct the yield study and feasibility of this project. Further development documents to assist with this study are also available along with the information memorandum, so do not hesitate to contact the agent now for further details. Currently attracting a passing rental income of $1,738 per month with good tenancy, this helps with the holding cost of the property while permits and approvals are being obtained. 5 Morelle Court is ideally positioned close to major train line, major arterial and bus routes, central Mooroolbark township plus a short walk away from major parks such as Esther Park and Red Earth Community Park. There are also plenty of good schools located close to the property as well. With plenty of shopping opportunities at Brice Avenue shopping strip, Chirnside Park Shopping Centre and Eastland Shopping Centre in Ringwood, this is one development opportunity not to be missed. ***** Due to recent government guidelines relating to COVID-19, all inspections are only by appointments and needs to register with the agent prior to the inspection. We advise that you follow the strict guidelines as follows: You are not allowed to attend the inspection if you: are ill; have been diagnosed with COVID-19 and are awaiting medical clearance; have been in close contact with a confirmed case of COVID-19 in the past 14 days; or arrived in Australia or New Zealand from overseas, and have not self-isolated for 14 days. Please contact the agent for alternative inspections during this period of time.*******