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Block of 6 Units or Multi-Residential Development Opportunity 250m from the Beach
It’s not every day that an incredible opportunity like this comes knocking. This entire apartment block, currently split into six separate strata-titled dwellings, is being sold under the one sale. Just 250m to the sand and surf, the property offers multiple options that will appeal to investors, home builders and property developers alike.
Currently configured as 2 x 2-bedroom and 4 x 1-bedroom apartments, the units are light, bright and generously proportioned. All have their own internal laundries, parking space and balconies. Completely comfortable yet in mostly original condition throughout, this exciting real estate prospect offers investors scope to keep as is and reap the current rewards of a combined $100k p.a. income, or, renovate and increase the current rent and/or sell the apartments individually.
Alternatively, the 871sqm parcel with approximate 19.9m frontage is prime for development. Realise your dreams to build a luxury beachside home or take advantage of the R2 Low Density Residential zoning and build multiple residences, all subject to council approval.
The undeniable appeal of this noteworthy opportunity is made utterly irresistible by the beachside location. Stroll to Merewether beach in just a couple of minutes where your tenants can swim in the ocean baths, master the surf breaks or enjoy dinner or a drink at the Surfhouse.
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