Rarely does an investment opportunity arise that presents such prime position, size and versatility. This superbly maintained character filled residential building is council approved and configured as six lettable tenancies providing excellent cashflow and great capital growth prospects.
This grand three-level property comprises;
1 x two bedroom apartment
2 x one bedroom apartments
3 x studio apartments
Each apartment is self-contained with vogue kitchens, bathrooms and internal laundries featuring integrated Miele appliances, stone bench-tops and frameless glass shower screens. All apartments have been fully renovated with some capturing elevated outlooks.
The property retains many period details combined with updated modern amenities. Period details include high ornate ceilings, feature fireplaces, filigree wrought iron work and polished timber floorboards.
At the rear of the property is a large sunny alfresco communal outdoor entertaining area featuring a beautifully manicured parteere garden, water fountain, kitchen, dining and relaxation facilities.
This superb location is a short walk to Petersham train station, shops and only metres to Marr playground. Also of convenience is a bus stop to Newtown and the city virtually at your door step.
The property has a passing income of $157,560 per annum with nothing further to do or spend. The property represents an exceptional opportunity for investors to secure a large flexible residential investment that is presented in top condition and positioned in the heart of the inner west. Alternatively, an astute buyer may wish to live in one or more of the apartments while deriving income from the balance and STCA further develop the vacant side of the building and strata subdivide.
Located just six kilometres from the CBD, Petersham is a suburb perfectly positioned for future growth. Steadily growing in popularity and prestige, Petersham is now being discovered by a new wave of buyers who love it's classic architecture, convenient setting and close-knit community feel.