Mixed Use Investment - Value Add Opportunity
An investment property with development upside, genuine value add opportunity with robust income streams from commercial and residential tenancies.
Positioned within one of Newcastle’s most desirable suburbs, 107 Ocean Street provides the rare opportunity to invest in a well-established mixed use investment property. Additionally, the property benefits from an approved DA to construct a further three apartments without displacing any of the existing tenants, offering continuing cash flow while you build. 100% leased, the property is currently generating a gross income of $105,000* pa + GST.
- 100% leased to established tenants
- DA approval for three additional apartments
- Combined net income of $85,000* pa plus GST
- Existing 3 x two bedroom apartments with four retail shops
- Zoned B1 Neighbourhood Centre
- Site area 715 sqm* with dual street frontage