INVESTORS have a fantastic opportunity to purchase three in-one-line terraces in the heart of Ultimo as 576A, 578, and 580 Harris Street go under the hammer.
The asset offers wide triple street frontage, rear street secure parking for several cars, and provides a current rental return of $380,000 plus GST and all outgoings – leased until 2031.
The properties are being marketed and sold by Ray White Commercial South Sydney Directors Philip Elmowy and Anthony Vella, in conjunction with First National Pyrmont.
“This freehold investment is being offered for the first time in over 12 years and these terraces have rear street access from Systrum Street – and each have ample parking,” Mr Elmowy said.
“576A Harris Street features two levels with rear street access, 578 Harris Street features three levels with rear street access, and 580 Harris Street features two levels with rear street access.
“Ultimo is an inner-city suburb of Sydney, is just 2km* south-west of the Sydney central business district, and is in the local government area of the City of Sydney.”
“These terraces are wonderfully located at the foot of Chinatown and Haymarket and they provide an investor with a myriad of opportunities for future use,” Mr Vella said.
“Permitted with consent, these include; boarding houses, centre-based child care facilities, commercial premises, community facilities, educational establishments, entertainment facilities, function centres, and hotel or motel accommodation, to name a few.”
The auction will take place at Ray White Auction Rooms Level 17/135 King Street, Sydney, on Friday 24 July at 10.30am (AEST).