31 Pell Street, Merewether NSW 2291

Bidding commencing from $1.1 million.

Unique opportunity to secure a piece of Blue Chip Merewether real estate. Purpose built brick and tile construction as 3 flats constructed in 1966 and renovated in 2010.
Positioned on a 500m2 block (approx) with a 15m frontage all within strolling distance to beach and baths. This property provides a sizeable land component plus generous income stream.

Flat 1 - 1x1 Bedroom plus private courtyard ($330 p/w)
Flat 2 - 1x1 Bedroom plus study ($320 p/w)
Flat 3 - Spacious 3 bedroom apartment plus deck ($430 p/w)

Carports for multiple vehicles and storage lockers at rear.

As stated each unit has been refurbished offering stylish welcoming decor and has continued regular tenancy. This property allows for a straight investment or multitude of family options, perfect for extended family, granny flat/teenage accommodation, potential to expand the upper living residence or convert to one home subject to Council Approval or put in a holding pattern pending construction of your new home.

A fantastic addition to your property portfolio is on offer so seize this opportunity.

(Pest and Building Report available on request)

Council rates - $2,494.96 p.a.
Water rates -
$1,821.96 including usage p.a.
Current rent - $56,160 p.a.