14 Woongarra Street The Gap QLD 4061

3-bed high-set | 597m² block | 26% site coverage | bushfire overlay | tenanted to Jan 2027 This property presents a rare combination of low site coverage on a 597m² block and a secure tenancy until 2027, making it a strong candidate for a buyer seeking immediate rental income with long-term redevelopment optionality. The 26% building footprint leaves substantial room for future extension or a second dwelling, and the elevation and 7m roof height suggest good passive solar and privacy potential. It is best suited to an investor or a buyer willing to hold for capital growth in The Gap, where median house prices sit above $1.4 million and owner-occupier demand is high. The bushfire overlay is the primary risk, likely limiting subdivision and increasing insurance costs, while the single bathroom and 1970s build may deter owner-occupiers without renovation. However, the long lease at $620 per week provides stable cashflow, and the property’s position near quality state schools and with 5G coverage supports tenant retention. For a buyer, the logical hold is to collect rent, monitor bushfire planning changes, and consider a rear-pad subdivision or extension in the medium term.