"Rotherwood" - Huge Restoration or Redevelopment Opportunity
First time offered for sale ever - a rare and substantial offering of an entire residential complex is currently on the market! Comprising 9 apartments, each with 2 bedrooms, 1 bathroom, balcony, city views from top floors and onsite parking. Perfectly placed amongst the action of Camberwell Junction, providing a potential annual gross rental return on a fully let basis of approximately $175,000, this investment will add significant value to your property portfolio. Sold as a complete site, the property comes with some remarkable and unique qualities. The building itself is of solid brick, beautifully maintained and occupies an impressive 2,025m2 block spanning over two titles. Residents enjoy a vast shared lawn space once enjoyed as a tennis court, well laid out common spaces and the privacy of established greenery. Purchase and lease out as is and reap the rewards of rental and capital growth with minimum further outlays.
Alternatively, take advantage of the premium address plus huge land size and redevelop with confidence. Positioned within a General Residential Zone 3 with no heritage overlay, there are various options available including restoration, subdivision or construction of a brand new, luxury residential development (STCA).
570 Riversdale Rd is immersed right in the heart of Camberwell amongst leafy surrounds and a refined urban offering. Enjoy trams at your doorstep, walking distance to Camberwell Shopping Precinct, Camberwell Station, Rivoli Cinemas, Riversdale Park, Camberwell Primary and Camberwell High. Inspect today and secure this rare and enticing offer!
