1-4/72 Mitchell Street
Merewether

Blue Chip Investment or Future Development - Block Of 4 Units Strata Titled

4 4 4

Boasting a prized lifestyle address just 700m to Merewether beach, this amazing real estate opportunity of four 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.

With approximate $62,400.00 returns per annum when fully tenanted, the solid brick block promises immediate and ongoing cashflow with exciting future options to renovate, while the 702sqm block with approximate 16m frontage could also make way for a pair of stunning new luxury homes (STCA).

The lifestyle in this pocket of Merewether is easy, breezy and super convenient. Head off for a surf or swim before work, grab your morning coffee from Commune Convoy or stroll to the Prince or Burwood Hotel for a drink or dinner with friends.

- All four apartments share a similar 1-bedroom, 1-bathroom layout with electric-equipped kitchens and their own carport and internal laundry
- Good original condition with potential to capitalise with a cosmetic revamp
- A prime investment opportunity appealing to SMSF with 4 x long term tenants
- Exceptional future development potential for multiple residences (STCA)
- Stroll to the beach, cafes, Townson Oval and Lingard Private Hospital

Sold

$2,200,000

Features

Details

  • land size approx 702 m2
  • water rates $2,588 py
  • council rates $7,368 py

Available Documents

Your
agents

Michael Flook Real Estate Agent

Michael Flook 

Licensed Property Consultant 

0438 770 426 

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