Residential Property for Sale
Modern CBD Living with Income
Property ID 1861982This multiple use, architecturally designed two storey building features the perfect combination of commercial and residential real estate right in the heart of Lismore, whilst also being within commuting distance of Ballina and Byron Bay.
The commercial section of the ground floor comprises of two office spaces, with a combined floor area of 88sqm*, which is currently tenanted to a stable, government supported tenant. The property also offers and office/studio space currently linked to the residence with floor area of 42sqm*. There is the opportunity to use the studio/office as a separate commercial tenancy. The residential section of the ground floor boasts a large double lock-up garage of 43sqm*, a private internal courtyard/entertaining area and garden of 78sqm*.
Upstairs features a contemporary residential three bedroom apartment with high raked ceilings, large windows, open plan living, dining and kitchen areas. There is a small deck off the kitchen area that captures the afternoon breeze with a lovely outlook. Floor area of the apartment is 130sqm* plus 78sqm* outdoor area and 43sqm* garage.
The ground floor is currently achieving a rental income of $24,454* per Annum. The apartment and studio is currently rented at $450 per week. This makes a combined net rental income of $42,467* per Annum based on all areas of the property being tenanted, with the scope to easily increase this further by leasing the downstairs office/studio separately.
The property is zoned B3 Commercial Core. The property has rear lane access from Little Dawson Street and offers 6 on site car parks including a double lock-up garage and 4 uncovered car parks at the rear as well as ample street front parking. There is disabled access to the commercial offices, with a covered side walkway connecting the car parks to the front of the building, and a separate disabled access toilet and shower facility.
This unique property offers investors ultimate flexibility for maximising the usage and earning capacity of the building. There is great attention to detail in the design and finishes of the premises, resulting in a contemporary look that will suit any business and tenant.
Make an appointment with Chris Harley on 0412 758 830 to inspect today.