211 Military Road, Cremorne

Sold

Block of 4 Large Art Deco Apartments - Sold In One Line - Held under Strata Title

Estate Sale - Under Instructions From The Trustees.

This impeccably maintained block of four art deco apartments presents an outstanding opportunity for investors and developers, with the potential for excellent returns.

Positioned on a vast parcel of land, the apartments are set well back from the street and are fronted by majestic established gardens. Approximate land dimensions are 20.24/17.17 x 64.115/53.275. Each apartment offers a highly spacious layout incorporating two double bedrooms, a sunroom, a study, an elegant bathroom, a gas kitchen, a graceful lounge and a stylish adjoining dining room. They are approximately 109 m2 each plus parking.

The apartments retain splendid original features throughout, including high ceilings, decorative cornices and period fireplaces. Two of the properties also feature air-conditioning, three come with large secure garages and one has a car space.

Commanding a highly convenient, central location, the boutique security block has public transport at the door and is also within a moment’s stroll of Neutral Bay’s shops, the Orpheum Cinema and a fabulous assortment of nearby restaurants.



Total aggregated land value: $1,290,000

Approximate annual outgoings: council $2,791 and water $2,264

Tenancy schedule:
Apartment 1 - $1,040.00 rent pf on an expired lease
Apartment 2 - $2,259.52 rent pm with lease expiring 31/12/09 
Apartment 3 - Vacant
Apartment 4 - $2,216.07 rent pm  on an expired lease
Total annual rent - $80,822.93
Gross rent if fully let at an estimated market rent of say $600 pw each is $125,144

Auction: 10:30 am Tuesday 20 October 2009, City Auction Centre, level 1, 55 Harrington Street, The Rocks

Inspect: Saturdays and Wednesdays 12:30-1:15 pm

Details: Andrew Croll 0409 530 133

Solicitor: Luchetti & Co, Level 2, Suite 201, 24 falcon Street, Crows Nest 2065 p 9906 3888

Please note we have obtained all information from sources we believe to be reliable, however we cannot guarantee its accuracy. Prospective purchasers/tenants must rely on their own enquiries in this regard. We will not accept any liability for any incorrect representations claimed to be made that has not been confirmed in writing with the agent prior to the purchaser/tenant exchanging contracts.