Belmore 44 Drummond Street

Overview

"Fully updated Boutique block of 8 x 2 B/R apartments on huge parcel of land - 1,058 sqm approximately"

All the hard work's been done with this well maintained and improved property. Highly suitable for the shrewd investor with potential to develop further subject to council approval.

Comprises 8 x 2 B/R apartments & at least 8 x 1 car space for each Kitchens and bathrooms updated in all eight apartments Generous open plan layouts with separate lounge and dining areas Polished original timber floorboards throughout the four ground floor apartments All with their own laundry facilities and 5 x balconies Fully rendered and painted building with security intercom Huge rear parking area with great future potential to add gardens/courtyards to ground floor apartments Long standing tenancies and low vacancy factor due to modern improvements and convenient location Opportunity to convert to Strata title and re-sell individually (subject to council approval) Land dimensions approximately 21.03m x 50.29m Zoned R3 - Medium density residential Fantastic location near Burwood road shopping strip as well as parks, schools & all forms of public transport 700 metre (8 mins) walk to Belmore train station 250 metre (3 mins) walk to Belmore South Public School 950 metre (10 mins) walk to Canterbury Hospital
Gross Annual Return currently - $154,699.80 approximately

Annual Outgoings
Water rates - $8,071.84 approximately
Council rates - $7,056.00 approximately
Electricity - $342.27 approximately

Land taxable value 2021 - $1,550,000

Aris Dendrinos 0412 465 567
arisd@randw.com.au
www.facebook.com/randwmarrickville