434 Pittwater Road

North Manly NSW 2100

504 m²

778 m²

House

Currently for sale - view listing

Overview

5% EXPECTED YIELD | FULLY LEASED BUILDING! $370k YEARLY INCOME INCREASE TO $425k PA

Exclusively Listed by Novak Properties. Novak Properties is proud to present Manly Maisonettes, a modern, purpose-built boarding house located in the highly sought-after beachside suburb of North Manly, on Sydney's prestigious Northern Beaches. Property Highlights: | Land size: 778m² | Internal floor area: 504m² | 5% EXPECTED YIELD | High-quality, double brick construction | To build this block in 2026, it would cost $6m | 15 Self-contained studio apartments | Current gross passing income: $372,359.53 p.a. | Potential to increase yearly income to $425,000 | 100% Occupancy rate | Internal lift access between levels | 4 On-site car spaces generating additional income | Zoning: R2 Low-Density Residential – strong underlying land value | Construction Completed in 2017 – Depreciation Benefits Available | Proven track record of strong occupancy | Additional Revenue from communal laundry facilities | Extensive 36.5m frontage to Pittwater Road | Two private outdoor balcony areas | Additional garage/storage room Each studio is thoughtfully designed with an open-plan layout, combining living, dining, bedroom, and kitchenette areas, along with a private, fully equipped bathroom. Constructed over two levels with lift access between a durable Colorbond roof, this modern boarding house represents a rare investment opportunity in a tightly held location. "All information contained herein is provided by third party sources including but not limited to the owners/developers, valuers and solicitors. Consequently, we cannot guarantee its accuracy. Any person using this information should rely on their own enquiries and verify all relevant details for their accuracy, effect and currency."