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A premium King Street location makes this commercial & residential package an exciting offering for investors looking for a high yielding property in the beating heart of Newtown. Situated midway between Newtown and St Peters Stations, this landmark building, formerly known as the international hotel, enjoys exceptional corner positioning and high exposure to this celebrated lifestyle precinct.
Freestanding to the north side, the property consists of a trendy street front café and three residential apartments earning a combined $124,000pa approx. in rental income, across the four tenancies with potential to increase this to approximately $140,000pa. There are two 2-bedroom apartments and one oversized 1-bedroom apartment.
As an added bonus, the property comes complete with DA approved architect plans to extend up and add a third level that will increase accommodation area and earning potential. Subject to existing tenancies, there is so much potential here, with scope to use the commercial space as a business headquarters with rental income from the apartments, a home-plus-income or a high performing investment property.
This is an extremely rare and prized chance to own a highly versatile Newtown property with excellent rental income and value adding potential in one of Sydney’s fastest-growing property markets.
|R&H Suburb Summary||Houses|
|Number of sales||214|
|Median Rental Price||$750 p.w.|
|Change in Rental Rate (5yr)||0 %|
|R&H Suburb Summary||Units|
|Number of sales||128|
|Median Rental Price||$450 p.w.|
|Change in Rental Rate (5yr)||-10 %|