Residential apartment block with value-add opportunity

Details

Located in a tightly held leafy neighbourhood, 29 Wharf Road, Gladesville is a well-maintained two and part three-storey walk-up residential unit block featuring 11 x two bedroom and 2 x one bedroom apartments.

The property has rear lane access from Ashburn Lane, and incorporates four garages and on-grade parking for a further nine cars. This fully leased unit block provides a secure income stream, offering an exceptional investment opportunity. There is a significant value add and positive rental reversion opportunity through renovation, refurbishment, and repositioning.

Key highlights
• 13 apartments offered in-one-line
• Favourable mix with 11 x two bedroom and 2 x one bedroom apartments
• Fully leased gross passing income of $272,707 per annum
• Rental reversion opportunity through renovation
• Dual street frontage to Ashburn Lane
• Significant land holding of 1,265sqm*
• Ideal location in the heart of Gladesville retail strip, close to cafes, boutique shops and restaurants.

29 Wharf Road, Gladesville is offered for sale via Public Auction on Tuesday, 29th November 2022 at 5pm at Homely Auction, Level 1/29-33 Bay Street, Double Bay.

For more information, please contact the exclusive selling agents.