Astute investors will not want to miss the opportunity to secure this rare Northern Beaches offering of 1 shop and 2 residences located in beautiful Narrabeen, 50 metres from the beach.
Area: Shop: 157sqm + 35sqm storage area; Residential Unit 2: 92sqm internal; Residential Unit 3: 96sqm internal.
This well-maintained property represents a fantastic investment opportunity with all three tenancies occupied of which two have been there for over 10 years. The ground floor shop has a solid tenant on a new 5-year lease who has been trading in this prime corner block position for 12 years. The 1st-floor residential tenants are both on new one-year leases. This property has been approved for Strata Subdivision, allowing for upside and flexibility.
The 157sqm ground floor shop has exceptional exposure from its corner position and includes an additional 35sqm storage area and 2 car spaces, with plenty of on-street parking for customers.
The residential units are both on level one and each includes 2 car spaces. Unit 2 is 92 sqm and was recently renovated with new kitchen and bathroom and includes features such as stone benchtops and plantation shutters. This unit has 2 bedrooms, both with robes, plus additional 48sqm of balconies and entertaining area with ocean outlooks. Unit 3 also provides 2 bedrooms with robes; as well as an open plan living/dining space. This 96sqm unit includes a large bathroom and laundry, and an additional 34sqm outdoor terrace for enjoying the ocean views and breezes.
*Fully rented with 3 stable tenants
*Total shop area: 192sqm.
*Total residential areas: 140sqm 2-bedroom unit; and 130sqm 2-bedroom unit
*2 car spaces for each tenancy
*Ground floor shop with solid tenant on a new 5-year lease
*Main road corner exposure for the shop
*Large open plan retail; with separate storage space
*Two well-maintained 2-bedroom units with lots of windows, natural light and views
*Outdoor terraces for entertaining; just footsteps to the beach
*Both residential tenants on a new one-year lease
*Approved for Strata Subdivision allowing for upside and flexibility
*Total Net income - $145,838
Located just footsteps from the ocean, and a short stroll to the lake, this lifestyle offering provides a significant opportunity with solid income and future capital growth prospects for the astute investor.
This is a rare opportunity to invest in a prime location in Narrabeen with public transport just footsteps away, surrounded by busy cafes, shops and restaurants, with both the ocean and the lake just a short stroll away.
For more information or to arrange an inspection, contact exclusive agent Vincent West 0403 444 000.
Located in the centre of Sydney's stunning Northern Beaches, footsteps from South Narrabeen and Collaroy beaches, with all the lifestyle amenities at its doorstep. Positioned at the intersection of busy Pittwater Road and Ocean Street, just minutes from a variety of cafes, restaurants and bars such as Barbuto's and The Sands, as well as regular public transport, with the convenience of Narrabeen centre shops just moments away.
** Quoted areas/measurements are approximations only **