A prime investment opportunity with immediate cashflow whilst offering options to upgrade and/or redevelop (STCA).
Located in Sackville Street on some 1,290sqm (approx.) of flat land enjoying a frontage of 24.66m and a preferred north facing rear which captures city views from the ground floor.
Currently four older style apartments, 2 ground floor and 2 on the first floor, each exceptionally spacious single level, 3 bedrooms with multiple living zones in original condition. Parking at the rear with carports and large open area offering an abundance of additional off-street parking.
An estimated annual rental return of $100,000 per annum when fully leased (unit 2 currently vacant).
Exciting development opportunity exists. The land is graded non-contributory allowing further development (STCA). Build your dream home capturing Melbourne's spectacular city skyline, with room for a pool and/or tennis court. Alternatively, renovate and/or extend the four existing oversized apartments to increase cashflow. Further potential to build more than one home (STCA).
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