Blue Chip Investment or Future Development - Whole Block Of 5 Units on One Title & Bumper 1,049sqm Landholding
Auction Location: The Arc, 45 Watt Street Newcastle and Live via Auction Now Website.
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
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