5 Russell Avenue, Adamstown Heights NSW 2289

5 Russell Avenue, Adamstown Heights, presents a unique chance for savvy investors or homeowners looking for a project. Situated on an elevated corner block in a sought-after, leafy street, this property offers immense potential for those ready to renovate or rebuild. And the opportunity doesn't stop there—1 Ellerslie Road, the house next door, is also on the market, offering the rare chance to secure two adjoining properties in this prime location.

Property Features:

5 Russell Avenue:
* Elevated 635 sqm corner block
* Large family home with 4 bedrooms and multiple living spaces
* Existing house in need of renovation with plenty of exciting potential
* Extensive views and established trees
* Family friendly street with park nearby
* Exceptional street location with a leafy outlook

1 Ellerslie Road:
* Elevated 614 sqm block
* Similar structure and condition, with solid potential for renovation or redevelopment
* Exceptional street location with a leafy outlook

Why Buy One When You Can Buy Two?
* The properties can be sold separately or together, offering flexibility to suit your needs:
* Developers can take advantage of the combined land size to create something exceptional.
* Investors can maximise their returns by redeveloping two properties in tandem.
* Homeowners looking for space and future growth potential have the chance to create a unique dual-home setup or a large, custom-built residence.

Location Highlights:
* Located in the highly regarded suburb of Adamstown Heights, known for its family-friendly atmosphere and strong community spirit.
* Close proximity to well-regarded schools makes it an ideal location for families.
* Excellent transport links with easy access to bus routes and major roads
* Just minutes from Westfield Kotara, offering a variety of shopping, dining, and entertainment options.
* Only 10 minutes to Dudley beach or the beautiful Merewether Beach, perfect for enjoying Newcastle's famous coastal lifestyle.

Suburb Insights:
Adamstown Heights is a thriving suburb with a strong property market. The median house price currently sits at $1,080,000, reflecting the area's desirability and strong demand. With an annual growth rate of 6.9% for houses, this suburb remains a solid investment choice. For investors, houses in Adamstown Heights typically rent for $695 per week, providing an attractive rental yield of 3.6%. (source realestate.com)

Zoning: R2 Low Density Residential
Land Area: 663sqm approx
Council: Lake Macquarie
Land Rates: $2445pa approx
Water Rates: $926pa approx

We have obtained all information from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations. Photos maybe digitally edited and include virtual furniture.