A secure apartment block investment opportunity with further development upside, 776-784 Canterbury Road, Belmore includes an existing two-storey building of 44 x 1-bedroom apartments with a central courtyard and parking spaces. The site has DA approved for an additional 20 x 1-bedroom apartments on a third level and renovations to the existing facade and internals.
776-784 Canterbury Road benefits from the following key attributes:
- Total combined site area of 3,399 sqm*
- 44 x 1-bedroom apartments with parking spaces
- Dual frontages on Canterbury Road (61m*) and Allegra Avenue (61m*)
- DA approved for 20 x 1-bedroom apartments on a third level and renovations to the existing structure
- Significant opportunity to improve room rentals & property yield by refreshing units & increasing rents to market equivalents in the area
- Gross passing income of $686,660* p.a with significant potential for upside due to improvements and redevelopment
- Strong occupancy track record and a fantastic platform to immediately capture the low vacancy residential market
Auction on the 13th December 2022 at 10:30am
Venue: Auction Room - Mezzanine Level - 50 Margaret Street, Sydney NSW 2000
For more information or to request access to the due diligence room, please contact the exclusive selling agents.
Ray White Dulwich Hill
Steve Kremisis - 0414 818 317
Frank Camarda JP - 0414 854 854
Wāhi Tiriti | Tawhiti | Tau Rūma Moe | Tau Rūma Horoi | Rohe Whare | Wā Hokona | Utu Hokona | Pūtake Raraunga | |
|---|---|---|---|---|---|---|---|---|
 | 0.21 km | 2 | 1 | 103m2 | 2024 07 02 | $510,000 | Council approved | |
 | 0.24 km | 2 | 2 | -m2 | 2024 06 15 | - | Council approved | |
 | 0.13 km | 5 | 3 | -m2 | 2024 04 15 | $2,390,000 | Council approved | |
 | 0.21 km | 2 | 1 | 88m2 | 2024 03 18 | $460,000 | Council approved | |
 | 0.21 km | 2 | 1 | -m2 | 2024 03 02 | $431,000 | Council approved |