Positioned in one of Cleveland's most tightly held and sought-after pockets, 8 Gotha Street presents a rare opportunity to secure a substantial 1,012m² parcel of land just one street back from the water in prestigious Oyster Point. Widely regarded as the most desirable precinct outside of waterfront living in nearby Raby Bay, Oyster Point continues to attract buyers seeking a premium lifestyle location with exceptional long-term upside. Whether you're looking to landbank, redevelop, or build your dream home, this property offers outstanding flexibility. Set on a level 1,012m² block, the site presents the potential to subdivide into two 506m² blocks (STCA), build a new residence while retaining the existing home, or create two brand-new homes in a location where quality properties are always in demand. The existing residence has undergone several improvements in recent years, including a tastefully renovated ensuite with double vanities and double shower, whilst also boasting an amazing walk-in robe with custom cabinetry and an upgraded kitchen with an eye-catching tiled splash-back. Great open plan living areas, 4 bedrooms plus office and split system air-conditioning and ceiling fans providing comfortable living. A carport adjacent to the dwelling but not just that, you have fantastic side access with a concrete driveway to a double bay shed and caravan port at the rear making this a solid holding investment while future plans are prepared. Currently returning almost $44,000 per annum in rental income, the property offers strong cash flow, allowing you to benefit from immediate returns while exploring the site's full potential. Location wise, it is an easy walking distance to Cleveland's CBD, RSL and Oyster Point Parklands whilst also being just moments away from the newly renovated Grand View Hotel, Raby Bay harbour, local restaurants, cafes and schools in Cleveland State School and Cleveland District State High School. Opportunities to secure a block of this size in such a tightly held pocket of Oyster Point are becoming increasingly rare. For the astute buyer looking to secure a premium piece of real estate with endless possibilities, this is one not to be missed. Currently leased until February 13, 2027. *** Disclaimer: All information contained in this advertisement is considered to be reliable, however we offer no guarantee or warranty as to the accuracy of the information. First National Cleveland accepts no liability and offers no compensation for any errors or inconsistencies in the typing, wording or inclusions stated in the advertisement. Interested parties should conduct their own independent inquiries and satisfy themselves in all respects as to the available inclusions, description and suitability of the property.
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RealistIQ estimate range: $1,008,000 - $1,831,000Wider ranges mean more uncertainty.
RealistIQ estimate$1,420,000
$1,008,000$1,831,000
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