138-140 Pittwater Road, Manly NSW 2095

An absolute prime investment opportunity with potential future upside (STCA), this entire block of apartments is superbly situated within 220 metres of world-famous Manly Beach. A boutique early 1920’s building of only four, each of the exceptionally bright and spacious character apartments have been recently enhanced with stylish modern finishes and open to a vast elevated deck and private courtyards, lawn, and gardens. Offering the possibility of further capitalising via a Strata title conversion or redevelop into two semi-detached homes (STCA), its premier lifestyle address is only a short stroll to Manly’s cosmopolitan village hub and city ferry terminal.

* Two storey walk-up building set on a near level 431sqm block
* The two ground floor apartments open to private courtyards
* The two upstairs flow to a vast sundeck with leafy outlooks
* Total value of the individual units combined is $6.5m + approx.
* Potential to increase the total value of the units to $8m approx.
* High yielding residential investment current gross yield 3.6%
* Potential to increase the rental yield to 4.6% approx.
* R3 - Medium Density Residential which allows strata units, town homes or duplex’s
* Building Height limit of 8.5m with an FSR of 0.6:1
* Ability to convert this freehold unit block to strata title (STCA)
* Generous living rooms and dining areas adjoin the kitchen
* Sleek stone and gas kitchens with stainless steel dishwashers
* Oversized bedrooms with mirrored built-ins
* Chic bathrooms with Travertine look floor-to-ceiling tilling
* Upstairs sunrooms or studies with leafy streetscape outlooks
* Internal laundries, gas outlets in fireplaces, air con upstairs
* High patterned ceilings, ornate cast iron/timber fireplaces
* Covered rear terrace, level lawn and landscaped gardens
* Footsteps to eateries/deli's on Pittwater Rd and beachfront
* 700m to village, shops, and eateries, 1km to Manly Wharf
* Fully leased and currently returns $180,000 per annum approx.


Council: $4,797pa approx.
Water: $2,560pa approx.