An absolute prime investment opportunity with potential future upside (STCA), this entire block of apartments is superbly situated within 220 metres of world-famous Manly Beach. A boutique early 1920's building of only four, each of the exceptionally bright and spacious character apartments have been recently enhanced with stylish modern finishes and open to a vast elevated deck and private courtyards, lawn, and gardens. Offering the possibility of further capitalising via a Strata title conversion or redevelop into two semi-detached homes (STCA), its premier lifestyle address is only a short stroll to Manly's cosmopolitan village hub and city ferry terminal.
* Two storey walk-up building set on a near level 431sqm block
* The two ground floor apartments open to private courtyards
* The two upstairs flow to a vast sundeck with leafy outlooks
* Total value of the individual units combined is $6.5m + approx.
* Potential to increase the total value of the units to $8m approx.
* High yielding residential investment current gross yield 3.6%
* Potential to increase the rental yield to 4.6% approx.
* R3 - Medium Density Residential which allows strata units, town homes or duplex's
* Building Height limit of 8.5m with an FSR of 0.6:1
* Ability to convert this freehold unit block to strata title (STCA)
* Generous living rooms and dining areas adjoin the kitchen
* Sleek stone and gas kitchens with stainless steel dishwashers
* Oversized bedrooms with mirrored built-ins
* Chic bathrooms with Travertine look floor-to-ceiling tilling
* Upstairs sunrooms or studies with leafy streetscape outlooks
* Internal laundries, gas outlets in fireplaces, air con upstairs
* High patterned ceilings, ornate cast iron/timber fireplaces
* Covered rear terrace, level lawn and landscaped gardens
* Footsteps to eateries/deli's on Pittwater Rd and beachfront
* 700m to village, shops, and eateries, 1km to Manly Wharf
* Fully leased and currently returns $180,000 per annum approx.
Council: $4,797pa approx.
Water: $2,560pa approx.
All information contained herein is provided by third party sources including but not limited to the owners/developers, valuers and solicitors. Consequently, we cannot guarantee its accuracy. Any person using this information should rely on their own enquiries and verify all relevant details for their accuracy, effect and currency
