Boasting a prized lifestyle address on a bumper 1,049sqm landholding, this amazing real estate opportunity of five 1-bedroom apartments on one title is an exceptional offering for the astute investor or experienced developer who can appreciate the future potential of such a superbly positioned property.

Owned by the one family for over 40 years and currently returning $74,620 per annum, this fully tenanted, solid brick block promises immediate and ongoing cashflow with exciting future options to renovate, individually strata or develop, subject to council approval.

All five apartments share a similar 1-bedroom, 1-bathroom layout with original kitchens and their own carport and internal laundry. The block with approximate 22.6m frontage gently slopes down from the street and sits above Nesca Park to capture far-reaching views.

With the beach and ocean a short stroll in one direction and the delights of Darby Street in the other, it’s hard to imagine a better lifestyle spot.

Don’t miss out on this massive investment/development opportunity to ensure blue-chip returns and make your mark in this prime location.

– All five apartments currently leased through Safe Hands Property Management
– 5 x 1-bedroom apartments on total block of 1,049sqm
– Good original condition with potential to capitalise with a cosmetic revamp
– A prime investment opportunity appealing to SMSF
– Exceptional future development potential for multiple residences (STCA)
– Stroll to Darby Street cafes and minutes to the beachfront and King Edward park

Disclaimer:

All information provided by Presence Real Estate in the promotion of a property for either sale or lease has been gathered from various third-party sources that we believe to be reliable. However, Presence Real Estate cannot guarantee its accuracy, and we accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements in the information provided. Prospective purchasers and renters are advised to carry out their own investigations and rely on their own inquiries. All images, measurements, diagrams, renderings and data are indicative and for illustrative purposes only and are subject to change. The information provided by Presence Real Estate is general in nature and does not take into account the individual circumstances of the person or persons objective financial situation or needs.