Block of Units description
“Stunning Victorian Residence - Multiple Income Streams”
Rarely does an investment opportunity arise that presents such prime position, size and versatility.
This superbly maintained character filled residential building is configured as six lettable tenancies providing excellent cashflow and great capital growth prospects. This grand three-level property comprises;
1 x two bedroom apartment
2 x one bedroom apartments
3 x studio apartments
Each apartment is self-contained with vogue kitchens, bathrooms and internal laundries featuring integrated Miele appliances, stone bench-tops and frameless glass shower screens. All apartments have been fully renovated with some incorporating generous private courtyards and others capturing elevated outlooks.
Potential for multiple tandem parking.
The property retains many period details combined with updated modern amenities. Period details include high ornate ceilings, feature fireplaces, filigree wrought iron work and polished timber floorboards.
At the rear of the property is a large sunny alfresco communal outdoor entertaining area featuring a beautifully manicured partiere garden, water fountain and relaxation facilities.
This superb location is a short walk to Petersham train station, shops and only metres to Marr playground. Also of convenience is a bus stop to Newtown and the city virtually at your door step.
The property has a fully let income of approximately $159,380 per annum with room for rental uplift and nothing further to spend whilst also benefiting from low outgoings.
The property represents an exceptional opportunity for investors to secure a large flexible residential investment that is presented in top condition and positioned in the heart of the inner west. Alternatively, an astute buyer may wish to live in one or more of the apartments while deriving income from the balance and STCA further develop the vacant side of the building and strata subdivide.