5/58-60 Ourimbah Road, Mosman
Established Mosman Residential & Retail InvestmentAn excellent opportunity for an investor to secure a prime piece of residential and retail Mosman real estate. With an income stream from three tenants, it is comprised of a street-level retail space and two 2 bed/1 bath residential apartments. The retail shop, with Ourimbah Road frontage, has excellent exposure to thousands of cars daily and comes equipped with a new, first-class fit-out. The residential apartments, accessed via Rosebery Street, were completely refurbished in 2014.
A proven investment with a history of long-term tenants. The shop frontage claims a premium position with a coveted northerly aspect. An experienced popular retailer on a long-term lease, Four Brothers Espresso, is also the only café in this vicinity - ensuring a community following.
Set back off Ourimbah Road, the residential units are accessed via Rosebery Street. With a recent 12 month lease in place and a second new 12 month lease currently being sought - the property can be bought fully occupied. Both enjoy a westerly aspect and were updated in 2014 including quality renovations of the kitchens and bathrooms. Less than 1km walk to Spit Junction shopping precinct, including Bridgepoint, transport only metres away.
Located on the second busiest arterial road in Mosman, a thoroughfare to the city and northern beaches, capturing great visibility. Situated on the corner of Ourimbah Rd and Rosebery St, the corner position provides great street parking. Other businesses in the surrounding retail strip include long-term tenant TLE. This is the perfect acquisition for the prudent investor or S.M.S.F.
• Projected total net income of $110,896* + GST where applicable, per annum
• Potential to divide existing lot into separate strata lots
• Zoned R3 – Medium Density Residential
• For sale by Private Treaty
• Total area on title 224sqm
• 5 year lease expiring 2021 with a further 5 year option period
• Fixed annual rental increases
• Lettable area of approximately 58sqm over a single level layout
• Recent high-end fit-out in place, renovated kitchen supplied by owner
• Recent 12 month tenancy in place, one currently being sought
• 2014 renovation
• First floor apartment 85sqm total including covered balcony
• Ground floor apartment 60sqm internal plus 21sqm storage; total 81sqm
Inspect: Strictly by appointment with agent
*Areas are approximate. Information has been supplied to agent by vendors. All parties must rely on their own independent investigations.