29 Terranora Road Banora Point, NSW 2486

Sold for $660,000 on 7 Jun 2017
  • 7 Beds
  • 4 Baths
  • 4 Cars

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House in Banora Point

SOLD BY Brendan Gibb - Ray White Banora

  • 7 Beds
  • 4 Baths
  • 4 Cars

On offer is this rare non-strata multi dwelling property situated on an elevated Banora Point block capturing sweeping ocean views and a cooling breeze. Three separate tenancies provide for a boastful rental return, and with Banora Point having experienced consistent growth for the last 4 years including 9.1% last year; this is a very attractive investment opportunity. Being in mostly original condition there is potential to increase the returns through renovation/modernisation, although having been well maintained throughout its life the property is very liveable as it is.
Sure to appeal to investors and SMSF's, the opportunity also exists to live in 1 unit and lease out the other 2; making this an income producing home. Currently returning $44,200 to good long term tenants, by raising the tenancies to current market levels a return of $50,440 could potentially be realised.

Annual Figures
Current Income $44,200 gross
Potential income $50,440 gross, based on current market rental appraisals
Water Rates - $866pa approx.
Council Rates - $2,766pa
Garden maintenance - $962pa approx.
Common electricity - $1,113 approx.

Unit A (245m2) The entire top floor, a large house sized unit capturing excellent ocean views
4 bedrooms, master with ensuite and WIR
Multiple living and dining areas
Huge kitchen with ample storage
Main bathroom with separate toilet
Shared laundry with Unit B
Single car port space
Currently leased for $380pw, market rent of $430pw

Unit B (136m2) Ground floor
2 bedrooms with 1 bathroom
Generous living area
Full kitchen
Shared laundry with Unit A
Single car port space
Currently leased for $300pw, market rent of $350pw

Unit C (51m2) A small ground floor bedsit type unit
Single bedroom, single bathroom plus a small kitchenette and laundry area
Single car port space
Currently leased for $170pw, market rent of $190pw

Common areas
Low maintenance 702m2 block with basic grass area and ample parking space
Undercover guest parking space


4 carport spaces






Banora Point

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