2/40 Lorna Lim Terrace, Driver, NT 0830

$350,000

Unit
Type
2
Bedrooms
1
Bathrooms
1
Parkings
117 m²
Area

Last updated on Tuesday, September 22, 2026 ( See property details for 2/40 Lorna Lim Terrace, Driver, NT 0830)

$350,000

Manolis Hourdas Sales Associate to Jacob McKenna
  • AI-generated summary for guidance only. We can’t guarantee accuracy -please verify all details independently before deciding.

A well-positioned, low-maintenance two-bedroom apartment in Palmerston with established tenancy and convenient access to local amenities.

🏡 Property Highlights

  • Established tenancy until June 2027 providing immediate investment income
  • Private covered balcony ideal for outdoor relaxation
  • Spacious bedrooms with built-in robes and split-system air-conditioning
  • Convenient location within walking distance to Palmerston CBD and shopping centre
  • Low-maintenance, first-floor apartment with ample storage
  • Undercover parking within the complex for added convenience

✨ Key Features

  • Built-in Robes
  • Air Conditioning
  • Outdoor Area
  • Open-Plan Living
  • Balcony
  • Secure Parking
  • Storage Room
  • Pet-Friendly
  • Floorboards
  • Ensuite

Palmerston offers a vibrant community with excellent amenities, including shopping centres, parks, and golf courses. Its convenient location provides easy access to the CBD and recreational facilities, making it ideal for both residents and investors. The area boasts a peaceful environment surrounded by parkland, with a range of dining and retail options nearby.

What is the current rental income and lease duration?
The property is currently leased at $440 per week until 1 June 2027, providing a stable income stream for investors.
What are the ongoing body corporate fees and what do they include?
The body corporate levies are approximately $1,032 per quarter, covering maintenance of common areas, insurance, and management fees.
Is the property suitable for future renovations or extensions?
As a first-floor unit built in 1996, any renovations should be checked against local council regulations and building codes, but the property offers potential for updates within its current structure.
Are there any restrictions on pets or modifications?
The property is pet-friendly, but any modifications should be approved by the body corporate to ensure compliance with community rules.
What are the zoning and development restrictions in the area?
The property is zoned MR (Medium Density), which allows for certain development opportunities subject to council approval.
Are there any upcoming planned maintenance or special levies from the body corporate? Are there any easements or covenants on the title that could affect future use or renovations? Has the property been inspected for any structural issues or pests? Are there any restrictions on leasing or subletting the property? Is there any history of flooding or bushfire risk in this area? Are there any nearby construction projects or developments that could impact the property? What are the long-term plans for the surrounding parkland and community facilities? Are there any zoning changes proposed that could affect the property's value? What are the terms and conditions of the current lease agreement? Are there any additional costs or fees not included in the body corporate levies?

2/40 Lorna Lim Terrace, Driver, NT 0830 - More Details

$350,000

For more property information including body corporate and reports text 2L to 0488 810 057

Offering easy-care living in a convenient Palmerston location, this first-floor two-bedroom apartment combines a practical layout with a private balcony, great storage and easy access to shops, dining and local amenities. Currently tenanted until June 2027, it also presents a great investment opportunity with an established tenancy already in place.

• Two spacious bedrooms with built-in robes and split-system air-conditioning
• Open-plan living and dining with direct balcony access
• Functional kitchen with breakfast bar and ample storage
• Private covered balcony ideal for relaxing outdoors
• Bathroom with shower and vanity, plus separate toilet
• Separate lock-up storage room downstairs
• Undercover parking within the complex
• Currently tenanted until June 2027
• Quiet setting surrounded by parkland
• Walking distance to Palmerston Shopping Centre, CBD and golf course

Inside, the open-plan living area creates a comfortable central space, flowing directly onto the private balcony. The kitchen sits at the heart of the apartment and provides plenty of storage and bench space for everyday use.

Both bedrooms are generously sized with built-in robes and air-conditioning, while the downstairs storage room adds valuable extra space.

With an established tenancy secured until June 2027 and shops, restaurants, parkland and the Palmerston CBD all close by, this is a fantastic opportunity for investors looking to secure a well-positioned, low-maintenance property.

Offering easy-care living in a convenient Palmerston location, this first-floor two-bedroom apartment combines a practical layout with a private balcony, great storage and easy access to shops, dining and local amenities. Currently tenanted until June 2027, it also presents a great investment opportunity with an established tenancy already in place.

• Two spacious bedrooms with built-in robes and split-system air-conditioning
• Open-plan living and dining with direct balcony access
• Functional kitchen with breakfast bar and ample storage
• Private covered balcony ideal for relaxing outdoors
• Bathroom with shower and vanity, plus separate toilet
• Separate lock-up storage room downstairs
• Undercover parking within the complex
• Currently tenanted until June 2027
• Quiet setting surrounded by parkland
• Walking distance to Palmerston Shopping Centre, CBD and golf course

Inside, the open-plan living area creates a comfortable central space, flowing directly onto the private balcony. The kitchen sits at the heart of the apartment and provides plenty of storage and bench space for everyday use.

Both bedrooms are generously sized with built-in robes and air-conditioning, while the downstairs storage room adds valuable extra space.

With an established tenancy secured until June 2027 and shops, restaurants, parkland and the Palmerston CBD all close by, this is a fantastic opportunity for investors looking to secure a well-positioned, low-maintenance property.

The Finer Points
Council Rates: Approx. $2,161.66 per annum 
Area Under Title: 117m²
Year Built: 1996
Zoning: MR (Medium Density)
Status: Leased @ $440 per week until 1 June 2027
Rental Estimate: Approx. $480 - $530 per week
Body Corporate: North Management
Body Corporate Levies: Approx. $1,032 per quarter
Settlement period: 45 days or variation on request 
Easements: As per title
Deposit: 10% or variation on request 
Type
Unit
Bedrooms
2
Bathrooms
1
Parkings
1
Area
117 m²

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