Spacious Terrace Home With Incredible Potential

248 Glebe Point Road, Glebe, Australia
Price Upon Request
MLS lre_287_1127362
Web code BKJX
Status Active

Key Details

Total Beds
8
Full Baths
8
Views
City

Overview

Set on a generous block of approximately 360 square meters within the prestigious Toxteth Estate, this large semi-detached tri-level terrace is on one title and has been with the same family for many decades. Ideally situated on Glebe's "High Street" and currently configured as six self-contained apartments, this unique property offers the astute purchaser such opportunities as:

- Upgrading the existing apartments to improve their rent return

- Adapting the current floorplan to create a mix of luxurious strata apartments (STCA)

- Unwrapping it's exterior and renovating the interior to reveal the substantial Victorian Federation family residence hidden within (STCA).

 

...

Original features retained include a marble fireplace, rich timber floors, and lofty ceilings with ornate cornices and picture rails. The property has a northerly-east aspect and enjoys sunshine throughout the day. The rear of the dwelling offers uninterrupted leafy views towards Annandale. The site has valuable rear access to Allen Lane affording two off-street parking spots plus a lock up garage.When fully occupied the gross return in the current market would total approximately $2,440 per week.Minutes' walk to the Light Rail Station, St Scholastica College, Jubilee AFL/Cricket Oval and the iconic culinary/retail centre known as The Tramsheds….a true favourite with the locals. Opposite is a city bus stop and the award-winning Glebe Point Diner whilst literally at the end of the street is the foreshore walk/cycleway which takes you along beautiful Blackwattle Bay to the site of the new Sydney Fish Markets.

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