The building is located in the very popular Warehouse Precinct, an area that has undergone a complete gentrification in recent times. It is now a bustling inner city commercial and residential area made attractive by the Victorian architecture.
The building has two street frontages. Cumberland Street is State Highway 1 and Vogel Street is a character filled space which typifies the precinct's virtues.
The property consists of six residential apartments on the two upper floors and a ground floor commercial tenancy which incorporates a basement. The apartments are very much New York style - spacious and character filled with rustic charm. They are very popular with tenants.
Two separate buildings on two lots within single title.
Leasehold tenure.
Great return at this price, $995,000 plus gst. 11.8% plus gst net return.