/Three northern beaches apartment blocks in prime spots hit market

Three northern beaches apartment blocks in prime spots hit market

The whole block — 64 Undercliff Rd, Freshwater.

A positive spin-off of Sydney’s property decline has been the shift to a buyer’s market, and there are some great buys around all over the city at the moment at all price points.

But it’s rare to find a whole block of units for sale on the northern beaches, let alone two, both in top spots.

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And yet here they are. Two whole blocks, offering a wealth of opportunities for investors, extended families, or buyers who want super big property they can turn into a massive single home.

Both are located in sought-after suburbs, one in Balgowlah, known for its central location, access to the CBD and public transport and local shops and restaurants; and the other in Freshwater, home to one of Sydney’s most popular beaches, and a hot spot for young families looking for a quiet village lifestyle.

Both suburbs have access to great primary and secondary schools, and are close to Warringah Mall.

510 Sydney Rd, Balgowlah

This freehold mixed-use property offers a range of opportunities for investors or developers looking for the flexibility of a commercial/residential site.

The three-storey property is currently occupied by five separate tenancies with a combined return of $150,000 per annum.

The building fronts Sydney Rd, and benefits from great exposure and signage opportunities. It is within walking distance of schools, the golf course, Stockland Balgowlah and has easy access to Manly and the city.

Angus White, of LJ Hooker Balgowlah, said properties like these rarely came up for sale. This one has been in the same ownership for more than 15 years, and has been immaculately maintained, he said.

He said another big advantage of the property was the fact that the owners had separated the building into nine separate strata titles.

“It is fully tenanted and all the tenants are keen to stay on,” Mr White said. “It’s great value, I have been getting a lot of inquiry.”

Each premises has full amenities, including toilets, bathroom, kitchenette and office space.

The street level incorporates two office suites with bathroom and kitchenette; and the first floor has two modern, two-bedroom apartments.

The lower ground floor has offices with kitchen, full bathroom, two bedrooms and a north facing terrace, and the basement level has a large, open plan office space with male and

female toilets.

The property has the convenience of a bus stop at the door — the first bus stop north from The Spit Bridge.

The property is being sold by an expressions of interest campaign, closing on May 15, with a price guide of $3 million. For more information contact Angus White, or Tim O’Neill, of LJ Hooker Balgowlah.


64 Undercliff Rd, Freshwater

This apartment building hasn’t been strata titled, but that could be good news for a buyer who might want to turn it into one great big house.

And given the location — 190m from Freshwater Beach, this is definitely something buyers are considering.

James Smyth, of Smyth Estate Agents, said he had been inundated with phone calls and emails within hours of launching the property to market.

Investors were leading the pack so far, and with the building’s rental potential of between $2300 and $2500 a week, that’s not surprising.

“It’s prime real estate, it’s Freshwater Basin and it’s a long-held cash cow,” he said.

The 390sqm property is currently split into three apartments, two with three bedrooms and one with one bedroom.

Collectively, the building has seven bedrooms, three bathrooms, and two car spaces.

The double-brick building faces due north, and the top floor apartments have been renovated, adding new kitchens, bathrooms, timber flooring, fresh paint and new carpets.

Other features include separate dining and lounge rooms, and wall mounted airconditioning.

A rooftop terrace is accessed via a drop down ladder and offers spectacular ocean and headland escarpment views.

The property is due to go to auction on May 11 at noon. An early price guide of $3.35 million has been set, which is subject to change. For more information contact James Smyth, of Smyth Estate Agents.

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