1-6/40A Frith Street, Kahibah NSW 2290

Unique offering of 6 units on one title which has provided reliable and constant income for many decades. Perfect opportunity for investors seeking safe and reliable blue chip real estate with opportunity to increase future income. Situated in a most convenient location with Kahibah Village shops accessible across the road through Kahibah Memorial Park opposite and then through to cafes, convenience store, butcher, baker, take-away and Post Office. The Fernleigh Track is a short and convenient walk away and local beaches just a 5 minute drive. Bus transport available in Kahibah Road with connections to Charlestown and Newcastle West (via Merewether). Kahibah Primary School is in the street and only 200m away and zoned for Whitebridge High School. A convenient short drive to Westfield Kotara, Charlestown Square and Newcastle City and Harbour only 10-15 mins drive.
6 x Units on 1214sqm (approx.) land comprising of 2 detached residential unit buildings plus covered parking for 5 vehicles
Units 1-4/40A Frith Street Kahibah:-
Street frontage (50 year old approx. asbestos and iron construction)
* Unit 1 - 1 bedroom, unrenovated, carport – current rent $210p/w
* Unit 2 - 1 bedroom + study, renovated kitchen and bathroom, carport – currently vacant with estimated rent $350p/w
* Unit 3 - 1 bedroom, unrenovated, carport – current rent $215p/w
* Unit 4 - 1 bedroom + study, renovated kitchen and bathroom, carport – current rent $220p/w
Units 5-6/40A Frith Street Kahibah:-
Privately set at rear (20 year old approx duplex style, brick veneer and tile construction)
* Unit 5 - 2 bedrooms, attached garage – current rent $375p/w
* Unit 6 - 2 bedrooms, attached garage – current rent $380p/w

With renovations to units 1 & 3 and increases to market rent, returns could be expected of approximately $2,260pw gross.

Outgoings:-

Council Rates – $3224pa approx.
Water Rates – Recent invoice issued April 2022 $1,714 incl usage. Note-water usage included in rent.
Insurance – Building insurance with NRMA for $1.154m, premium of $2,962 paid in April 2022
Power – Some external lighting at the property is payable by the property owner, approx $70pq

Zoning: R3 Medium Density Zoning
Land Area: 1214m2
Council: Lake Macquarie
Land Rates: $3224pa approx
Water Rates: $1714 most recent invoice including usage approx

IMPORTANT INFORMATION ABOUT AUCTIONS – If you intend to bid and attend on-site we would ask that you please make arrangements to pre-register. Live ONLINE bidding is available by registering at https://buy.realtair.com/properties/97486.

Pre-registration is essential if you intend to bid online.

We have obtained all information from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.