211 Military Road CREMORNE NSW

Estate Sale – Under Instructions From The Trustees. This impeccably maintained block of four art deco apartments presents an outstanding opportunity for investors and developers, with the potential for excellent returns. Positioned on a vast parcel of land, the apartments are set well back from the street and are fronted by majestic established gardens. Approximate land dimensions are 20.24/17.17 x 64.115/53.275. Each apartment offers a highly spacious layout incorporating two double bedrooms, a sunroom, a study, an elegant bathroom, a gas kitchen, a graceful lounge and a stylish adjoining dining room. They are approximately 109 m2 each plus parking. The apartments retain splendid original features throughout, including high ceilings, decorative cornices and period fireplaces. Two of the properties also feature air-conditioning, three come with large secure garages and one has a car space. Commanding a highly convenient, central location, the boutique security block has public transport at the door and is also within a moments stroll of Neutral Bays shops, the Orpheum Cinema and a fabulous assortment of nearby restaurants. Total aggregated land value: $1,290,000 Approximate annual outgoings: council $2,791 and water $2,264 Tenancy schedule: Apartment 1 -?$1,040.00?rent pf on an expired lease Apartment 2?- $2,259.52?rent pm with lease expiring?31/12/09? Apartment 3?- Vacant Apartment 4?- $2,216.07?rent pm??on an expired lease Total annual rent – $80,822.93 Gross rent if fully let at an estimated market rent of say $600 pw each is?$125,144 Auction: 10:30 am Tuesday 20 October 2009, City Auction Centre, level 1, 55 Harrington Street, The Rocks Inspect: Saturdays and Wednesdays 12:30-1:15 pm Details: Andrew Croll 0409?530 133 Solicitor: Luchetti & Co, Level 2, Suite?201, 24 falcon Street, Crows Nest 2065 p 9906 3888