Near New Residential Building Rare Inner City Sydney Uni Precinct Opportunity
Near new residential building with ground floor restaurant.
Close to Sydney University, UTS, Notre Dame and others, opposite the latest Iglu building.
Outstanding location close to transport and nightlife.
Modern easily maintained 4 level building constructed in 2014.
20 fully self contained studio units with bathrooms, kitchenettes & balconies.
Dual street frontage to Regent and Cope Streets.
Coin-Op laundry facilities on site.
Substantial depreciation benefits.
Near 100% occupancy with regular repeat business.
Popular ground floor cafe/restaurant.
IMPORTANT: Significant value-add potential and income growth through active management and marketing.
Vacant possession of the studios available if required.
Major new commercial, residential and retail developments in Redfern have attracted Channel 7, Pacific Magazines and a new 93,000 sqm Commonwealth Bank building (10,000 staff) with more to come.
Net Income: $384,832 pa + GST.