135 Nicholson Street

Footscray VIC 3011

470 m²

222 m²

Block of units

Currently for sale - view listing

Overview

6.5% NET YIELD! 3 Apartments & 2 Shops in Footscray CBD

The Property • Substantial freehold building with two street frontages • Spread your income across 5 tenants! • Next to a large council carpark, • Returning $167,286 per annum gross • Net return circa $135,604 per annum (with Land Tax deducted) • Long-term lease to the front shop facing Nicholson Street • New lease to the rear shop facing Trugo Lane • $81,246 per annum gross from the shops • 2 x 2 bedroom apartment • 1 x 3 bedroom apartment • $86,040 per annum from the residential • Future redevelopment site on the main road, activity centre zone. Up to 6 + levels (STCA) The Location • The Footscray CBD is undergoing a major transformation under the local area plan • Only 5 kms from the CBD • Prominent cultural and commercial centre in the inner west • Surrounded by shopping, dining and public transport