Bar Beach 42 Bar Beach Avenue
Block of Units on Prime Corner Block Offers Multiple Options
Directly opposite Empire Park on a prime corner landholding capturing views to the ocean, this block of four oversized 2-bedroom apartments on one title holds exceptional future potential. Built 1935 and on offer for the first time ever, this blue-chip real estate opportunity offers multiple options that will appeal to investors, builders and property developers alike.
Completely comfortable yet in mostly original condition throughout, investors will see the potential to renovate and increase the current rent, keep on one title and enjoy the returns, or strata the units and sell them individually.
Alternatively, the 448sqm parcel with approximate 12.9m frontage and dual access off Brooks Street is prime for development. Realise your dreams to build a magnificent three storey beachside home or take advantage of the R3 Medium Density Residential zoning and build multiple apartments, all subject to council approval.
From this premium setting, you can stroll to The Junction's vibrant eateries, trendy boutiques and highly sought-after schools as well as Bar Beach bowling club and tennis club. And, with the beach at the end of the street, an early morning swim or surf or stroll along the Anzac Memorial walk comes as part of the package.
- 448sqm landholding with approximate dimensions of 12.9/12.2m x 40.7/40.4m
- Three of the four units are currently leased each returning approx. $450 per week
- Each has 2 bedrooms, sunroom, older style bathroom and kitchen, large living area
- Four single garages in a row accessed off Brooks Street
- Building and pest reports available on request
Disclaimer: We have obtained all information in this document from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.
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- Land area approx 448sqm
- Council Rates $3896/quarter
- Water Rates $2274/quarter
- Uncovered Carspaces 4
Local Information Bar Beach
- Government Schools
- Independent Schools
- Hunter School of Performing Arts
- The Junction Public School
- Hamilton South Public School
- Newcastle East Public School
- Newcastle High School
- Merewether High School
- Lambton High School
- Newcastle Grammar School
- Newcastle Grammar Park School Campus
- St Joseph's Primary School
- Holy Family Primary School
- St Francis Xavier's College
- Alesco Senior College
- St Laurence Flexible Learning Centre