16 Patrick Street, Merewether, NSW 2291

Auction Location: In Room

Discover the perfect blend of location and lucrative investment with this block of four x two-bedroom apartments, currently generating a combined income of $1,930 per week with long term tenants. Situated just a hop, skip, and a jump from Bar Beach, footsteps from Empire Park, and central to the vibrant hubs of The Junction and Darby Street, this property promises consistent returns and long-term growth potential.

Presented in a neat and tidy condition, these apartments are ready to continue delivering steady income. However, there's scope to add value. With some cosmetic updates or a complete renovation, you can elevate the rental income further. Alternatively, explore strata titling and selling off the units individually (STCA) to maximize your returns.

Merewether is a highly sought-after suburb, coveted for its proximity to the ocean, parkland, surf clubs, dining, and entertainment. It's where everyone wants to live, making this property an investor's dream. Just over 2km from the city and harbour, the convenience and lifestyle on offer here are unmatched.

- 4 x 2 bed, 1 bath units on one title all on a current lease with shared laundry
- Units 1 and 2 come with a single garage each
- Unit 1 occupies whole top floor featuring a north and south facing balcony and own laundry
- Scope to significantly increase rents on renewal of leases (Estimated at $2,500 per week).
- Add value with renovation
- Approx. 12.5m of frontage
- Dream location stroll to Bar Beach, Empire Park, The Junction, Darby Street 

Disclaimer: We have obtained this property information from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective buyers are advised to carry out their own investigations.