Inner City Investment - $450000

Description

Well constructed corner property consisting of 3 main lettable areas, position is high exposure, just east of the main business area. Land Area : 655sqm RPD lot 1 on RP 861188 Tenancy 1: Former dwelling house of approximately 88sqm, timber construction with current TRC approval for Medical/Paramedical (Tricology) . The dwelling consists of 3 procedure rooms, 2 offices, lunchroom, waiting room and storeroom. Currently vacant the dwelling would readily convert back to a residential house with expected return of $220 to $230 per week. Tenancy 2: Cavity brick construction office of approximately 83 sqm current TRC approval for Office/General. Current lease till 30/6/2009 at $17,200 p/a. This office should be readily rentable at the completion of the current tenancy in the region of $16,500 to $17,000 P/A plus GST. Tenancy 3: Laundromat with approximate floor area of 57sqm, Stucco external wall construction with timber flooring. This building has been used as a Laundromat for many years and has current TRC approval. Current lease till 30/6/2009 with a return of $17,909 plus GST P/A. A new 3 + 3 Lease is being signed to take affect 1/7/2009.