48 Bank Street,
Wollongong, NSW 2500

Opposite the Wollongong historical rose gardens and being sold in one line is this once in a lifetime amazing multi property investment. The site consist of three separate lots of land with 11 flats on one lot and two separate houses on the other lots. The property has amazing development potential, with a near level combined site area of 1,704sqm. The current income from the existing buildings is a gross return of $257,400 P/A for all three properties. Zoned of popular B4 mixed use the zoning allows a multitude of uses and excellent FSR. The site is positioned steps away from Wollongong CBD, major shopping centres, Wollongong Mall and the Restaurant precedent. All apartments and houses featuring tidy decor including some remodeled kitchens and bathrooms. All apartments are up to rental standard and have the potential for a fantastic rental return. This block of flats has been owned as a family long term investment for many years. This is a one off opportunity to achieve a magnificent property for your portfolio. Lease, renovate, develop the options are endless! Request a full information memorandum for the balance of details.

Features

* FSR: 3.5:1 for Commercial and 2.5:1 for Residential
* 400m to Wollongong Mall and free bus
* Level 150m to major shopping centre
* 2 Street frontages (Bank and Kembla Streets)
* All electrics have been previously replaced
* Complex is full brick construction and suspended concrete floors
* The property was built in the late 1980's
* Structure, Plumbing and electrical is all in excellent order