32-34 Perouse Road

Randwick NSW 2031

Block of units

Currently for sale - view listing

Overview

Irreplaceable Mixed-Use Investment With Diverse Income Profile

Positioned on a 548.1sqm* site within Randwick's renowned 'The Spot' precinct, the property comprises 17 tenancies across residential apartments, boarding house accommodation and retail/commercial uses, providing a highly diversified income profile with strong underlying land value and long-term growth prospects. Investment Highlights: - Positioned within one of Randwick's most tightly held mixed-use precincts, benefiting from strong tenant demand and excellent amenity. - Diverse income stream across 17 tenancies: 4 x 2 bedroom, 2 x 1 bedroom, 9 x studios & 2 x retail shops. - Recently refurbished and extended approximately five years ago, including upgraded fire, water, electrical and communication services, together with modern finishes, reducing future capital expenditure requirements. - Unmatched transport accessibility, with a bus stop at the doorstep and the Randwick Light Rail just 400m* away. - Generating a strong gross income of $732,145 p.a.*, providing immediate cash flow with rental growth potential. - Positioned within 'The Spot' precinct, Randwick's vibrant dining and entertainment hub, home to renowned cafés, restaurants and the iconic Ritz Cinema. - Historically low vacancy across both residential and commercial tenancies, supported by efficient outgoings and a strong net return.