Sold for $3,850,000
Sold for $3,850,00015 Orchard Street, Balgowlah NSW 2093
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Property was sold on 25 October 2017.
Sold on 25 October 2017.
8 beds
5 baths
5 cars
Block of Units
8
5
5
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Block of Units
This property is nestled close to the sandy shores, offering an idyllic beach lifestyle.
It's not every day that an incredible opportunity like this comes knocking. This entire apartment block, currently split into five separate dwellings, is being sold under the one sale. In the prized North Harbour pocket, the property offers huge potential and a multitude of options to consider. Currently configured as two x one bedroom apartments and three x two bedroom apartments, the units are light, bright and generously proportioned. However, the real scope is to convert them all to two bedroom apartments by simply blocking off a doorway accessing the kitchen in the current one bedroom configurations. All have their own internal laundries and most have balconies. The block is well-presented with landscaped gardens at the front, and plenty of designated off-street parking at the back plus two lock up garages. Inside the building, it's a treasure trove of possibilities and the new owner will have some exciting decisions to make. Some options include, but are not limited to: ~Leaving the block as is with five separate dwellings with excellent rental return. ~Modernising and capitalising the apartments and either renting out, or selling some or all of the apartments further down the track (subject to strata approval). ~For the more adventurous types, a reconfiguring of the apartments could be an exciting proposition with the chance to convert the building into two or three large luxe dwellings (STCA). ~Or for the savvy investor, it can be kept in a superannuation portfolio as is and bring in rental income. There are many ways to carve this exceptional opportunity. The location is truly the icing on the cake. Whether it's the buzz of Balgowlah village at one end of the road and beautiful harbour walks at the other, an easy commute to work or the sheer proximity to pristine beaches... Balgowlah has it all. This is a unique opportunity and truly outstanding in potential. The sky's the limit.