A premier opportunity to secure a substantial landholding in one of Bondi's most sought-after pockets, comprising an entire block of six apartments on a single title. Generating current rental income of approximately $286,000 per annum, the property combines an established income stream with the flexibility to hold, renovate or explore future redevelopment.
Originally comprising of four large, semi-like apartments, the building has since been reconfigured into six residences, with four lock-up garages accessed from the rear lane. The accommodation includes one three-bedroom, one two-bedroom and four one-bedroom apartments. High ceilings, picture rails and timber floors contribute to the building's character and appeal for prospective tenants.
Occupying approximately 502 sqm with a desirable northerly aspect, the property offers several potential investment pathways. Retain the existing building and income, undertake strategic improvements, investigate strata subdivision and an individual sell-down, or consider a rebuild with the option to sell or hold the completed apartments.
Zoned R3 Medium Density Residential, with a stated floor space ratio of 0.9:1 and a height limit of 12.5 metres, the site provides scope to investigate vertical additions or redevelopment to make greater use of the applicable planning controls. There is potential to explore first-floor balconies and an additional level to capture district and ocean views and create a more attractive design, subject to feasibility and council approval. Any additional accommodation, subdivision or redevelopment would be subject to relevant approvals.
Ideally positioned for lifestyle and convenience, the property is within easy reach of Bondi, Tamarama and Bronte beaches. Bondi Road's cafes, restaurants, shops and everyday services are nearby, together with schools and transport connections to Bondi Junction and beyond.
Combining character, an established income stream and a range of potential future uses, this is an opportunity to secure an entire residential building in a tightly held coastal location.
- Entire block of six apartments on a single title
- Approximately 502 sqm of land with a northerly aspect
- Originally four large, semi-like apartments, reconfigured into six
- One three-bedroom, one two-bedroom and four one-bedroom apartments
- Character features including high ceilings, picture rails and timber floors
- Four lock-up garages with rear lane access
- Current annual rental income of approximately $286,000
- R3 Medium Density Residential zoning
- Stated 0.9:1 floor space ratio and 12.5 m height limit
- Potential to hold, renovate, strata subdivide or rebuild, subject to relevant approvals
- Potential for balconies and an additional level to capture district and ocean views, subject to feasibility and council approval
- Close to beaches, Bondi Road amenities, schools and transport
