This substantial property provides an opportunity for Investors to refurbish the existing 4 apartments, developers establishing 2 luxury apartments or an astute home owner prepared to create a magnificent family home, subject to council approval. The property is located in the sought after suburb of Glenelg South and is surrounded by luxury homes. It is within easy walking distance of the pristine beaches and trendy lifestyle facilities of Glenelg.

Any development of this property would be subject to the conditions of a heritage order put in place by the City of Holdfast Bay Council. This applies to the two story face brick building; with hipped tiles roof, timber wrap-around windows, timber lined eaves, fluted brick chimneys, brick balcony balustrades.Front fence of brick construction. Exclusions: External timber staircases, garages, external plumbing and gutters.

The 2 story property is situated on a block of approximately 850 square metres and currently provides 4 apartments: 2 on the ground floor, 2 on the 1st floor. All have 2 bedrooms, kitchen & lounge area serviced by a central stairwell. There are 5 carports at the rear together with a store room and community laundry. There is also a fire damaged dwelling at the rear of the carports.

The property is currently fully tenanted on periodic tenancies, which allows for vacant possession after 60 days notices. The current total income on the property is $660 per week.

The property is for sale by Auction which will take place on the property at 12.00 pm on Saturday the 25th of October, but the Vendor is inviting offers prior to Auction. It is available for viewing by appointment or by scheduled open inspections.

For Further information please contact Frank White on 0414 239 423 at any time.

ALL DIMENSIONS AND AREAS ARE APPROXIMATE. RLA 67430.

The vendor’s statement (Form1) will be available for perusal by members of the public –
(A) at the office of the agent for at least 3 consecutive business days immediately preceding the aucti