Are you looking for a quality location, with strong rental return and/or the opportunity for work-life balance? Well here you can comfortably have all three and in an abundance! This property zoned B2 Local Centre is without comparison and presents an opportunity like no other!
The Residential/Commercial offering is as spacious as is it flexible and currently is split into four generous income-producing spaces. Positioned virtually opposite the picturesque Lambton Park and easy steps to Lambton Pool and Elder Street Village, this truly is tremendous Real Estate! Newcastle’s revitalised City Centre is 10 minutes as are our world-renowned beaches! For shoppers, both Charlestown Square and Westfield Kotara are a short drive. Families will love that Blackbutt Reserve is literally up the hill and Lake Macquarie is on the doorstep with Warners Bay foreshore a mere seven minutes away. Those who need public transport or wish to attract clients who may be reliant, two bus routes are virtually at the doorstep. Every single conceivable box is ticked.
Upon entry and at street level is a commercial space leased to government-funded tenants. This tenancy has been long-term. Behind this space, and sharing a common kitchen/bathroom area, is a studio that may provide a second income stream. This currently facilitates an Art Studio, however may work for a similar small business setup.
Upstairs is an incredibly spacious two bedroom apartment with full length verandah and two over-sized living areas. At approximately 160sqm’s there is a wonderful opportunity to value-add with an inexpensive renovation and possible conversion to up to four bedrooms, subject to any necessary approvals being granted.
To the rear of the main dwelling is a fully self contained granny-flat with a possible rental return of $300 per week. This too, has a massive living area and may be converted to two bedrooms.
This spacious dwelling and accompanied granny flat presents an opportunity for an array of potential purchasers including; * Those looking for the elusive property that provides an opportunity for work-life balance * A clever home buyer looking to supplement their mortgage with multiple income streams * Those with a large family – perhaps looking to house multiple generations independently at one address * The astute investor who wishes to take advantage of the four ready-made income streams!
This amazing property, fully leased to it’s current potential, without investment, could return an annually gross income in excess of $70 000. Nett would be in the vicinity of $60 000! Do the math on what your savings or superannuation are doing for you! Some further investment/renovation would see those returns enhanced! Then consider the potential capital growth in such a quality location!
Genuine, financed buyers only please make contact. Note the B2 Local Centre Zoning when enquiring on your finance. More details including a floor plan and summary of incomes, both current and potential, are available upon request.
Please note that traditional open homes will NOT be conducted at this property. As there are multiple tenants and spaces to inspect, I will organise pre-arranged times with the tenants and book appointments at 15 minute intervals accordingly.
Leases are in place for all tenants, with varying expiry dates.
Call Michael Coates on 0412 449 333 to discuss any of the above further, including inspection possibilities.
