12 Albert Street Erskineville NSW 2043
- Development / Land
- 449 m²
DA Approved Boarding House
Savills are excited to offer 12 Albert Street, Erskineville to the market by way of auction.
This superby located development site provides a golden opportunity for developers, builders and savvy investors to take advantage of this rare DA approved boarding house, with an existing 5 bedroom house.
This unique development site creates an outstanding opportunity for the following reasons:
- DA Approved for 18 large boarding house rooms
- 3 train stations within 400m
- Existing well-presented 5 bedroom house with rental income
- Potential to modify current DA approval to increase number of rooms** (FSR 1.14 vs maximum allowable 1.5:1 after bonus 0.5 for boarding house)
- Cheap build - add-on and additions / no basement or lift
Construction certificate imminent
- Potential income once built: $400,000pa*
- Depreciation allowance once built: $62,500pa*
- Highly sought after suburb showing low vacancy rates and strong rental returns
- Easy walking distance to King Street shops, cafes & eateries
- Perfectly situated next door to Green Bans Park in a leafy pocket of Erskineville village
- Close proximity to RPA Hospital, Sydney University, UTS, Sydney Airport & CBD
The property will be sold via public auction on Tuesday 24 April 2018 at 10:30am at:
50 Margaret Street
Sydney NSW 2000
Please contact the exclusive selling agents for more information.