King Street, Newtown: A Rare Off-Market Gem

Discover a unique investment opportunity brought to you by Philipp Tsiprin of Kellys Property. This fully leased, freestanding property with rear lane access which has multiple car spaces at 124 King Street, Newtown is a hidden gem waiting for astute investors

Property Highlights:

• Commercial Space: Approximately 120sqm of prime restaurant/retail space, boasting a sleek fit-out with an investment of nearly $200,000. The reputable tenant is locked in with a 5-year lease, commenced on 01/06/2023, and a further 5-year option. Rental income: $92,000 per annum + GST + Outgoings.

Residential Units:
• Unit 1/124: A modern 2-bedroom apartment facing King Street, featuring abundant natural light, air conditioning, and internal laundry. Currently tenanted at $500 per week, with the lease expiring on 2nd April 2024.
• Unit 2/124: A chic 1-bedroom apartment with modern amenities, including a contemporary bathroom, kitchen, and laundry facilities. Generating $500 per week, the lease is valid until 7th May 2024.

Combined Annual Income: $153,200 + Outgoings, showcasing a robust return of approximately 4.7%.
Inspections by Appointment Only: Seize the opportunity to explore this property's potential. Schedule an appointment with Philipp Tsiprin by calling 0498 388 338.

Don't miss out on this rare investment offering in one of Newtown's prime locations.
Act now to secure your piece of this thriving community!

Note: All details provided are subject to verification, and interested parties should make their own enquiries about trading times, occupancy limits, and other relevant details.

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