It is all about the extra stream of income at the moment and 92 Myall Road is a golden opportunity for investors looking to develop a dual income property. Even better…with an existing 5 bedroom house currently tenanted, and with rental potential of $650 – $690 per week, you will already be banking an income while developing the second abode. With the Newcastle rental market showing no signs of abating a 2 bedroom granny flat built at the rear of the property could possibly garner a further $450/week.

Alternatively, this is a rare chance for a family looking to develop a second home on this property – either as an additional source of income or for Nana and Pop to be close! The current 5 bedroom house sits on a huge, elevated block with side access that allows for easy construction of a second house. It boasts two living areas, an open plan kitchen/dining area with a study nook, two and a half bathrooms, air conditioning and fans throughout, as well as a large covered entertaining deck overlooking the huge backyard currently home to a large shed.

The location of this property would further endear it to tenants, or to a busy family, situated as it is, within easy walk of primary and high schools and just a few minutes to either Charlestown Square or Westfield Kotara. Head down to the lake on the weekends – Warners Bay is a quick 10 minute drive – or grab a towel and make for the beach as stunning Merewether with its azure waters and brilliant surf breaks is just 13 minutes away.

– 5 bedroom house – all with built in closets and master with its own ensuite
– 2 bathrooms and additional toilet
– Large covered entertaining deck looking over the spacious backyard
– Huge 866 sqm block
– Easily subdivided or simply build an additional home or designer granny flat on the one large property
– 1 minute in the car or a 15 minute walk to drop the kids to Garden Suburb Public School and easy stroll across the road to Cardiff High
– 2 minutes to the Inner City Bypass
– 5 mins to Charlestown Square and 6 minutes to Westfield Kotara for shopping, cinemas and services
– 10 minutes to Warners Bay and the shores of Lake Macquarie
– 10 minutes to Glenrock State Conservations area and 13 minutes to Merewether Beach

Outgoings:
Water rates: $844.47 approx per annum
Council rates: $1,934 approx per annum

Disclaimer:

All information provided by Presence Real Estate in the promotion of a property for either sale or lease has been gathered from various third-party sources that we believe to be reliable. However, Presence Real Estate cannot guarantee its accuracy, and we accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements in the information provided. Prospective purchasers and renters are advised to carry out their own investigations and rely on their own inquiries. All images, measurements, diagrams, renderings and data are indicative and for illustrative purposes only and are subject to change. The information provided by Presence Real Estate is general in nature and does not take into account the individual circumstances of the person or persons objective financial situation or needs.