Cessnock NSW 2325

Prime investment property with excellent returns

House Sold - Cessnock NSW

Welcome to “Mascot”..

Don’t miss out!! Purchase your own piece of local Hunter Valley wine region history. “Mascot” formerly a private women’s hospital, back in the early 1900’s, now houses four (4) separate, one (1) bedroom unit’s with allocated off street parking.

Nothing needs to be spent. Opportunity is there, for an astute investor to purchase now and reap the benefit of its current layout and condition, with immediate returns, and the option to re develop later (STCA).

Zoned R3 Medium Density residential, the site in addition to its current set up, is perfect for bed & breakfast accommodation, boarding houses & serviced apartments (STCA)

Features to the property include:

– Corner block, with dual street access on 864sqm
– 4 separate units, all on 1 one title
– Individually metred for Gas & Electricity
– Modern units with ornate and original features throughout
– Modern bathrooms & individual laundry rooms
– Sweeping balconies with district views
– Timber flooring throughout all units
– Kitchen’s with Gas & Electric appliances
– Original cottage features retained to keep original history and charm
– Tenancies on fixed term Residential Tenancy Agreements
– Unit 1 leased at $240 per week
Unit 2 leased at $230 per week
Unit 3 leased at $230 per week
Unit 4 leased at $220 per week

Combined rental return of $920 per week

– Council: Cessnock City Council: Approx $836 per quarter

Perfectly positioned, and on the gateway into town, the property is also within easy access to arterial roads leading to Sydney & Newcastle.

Located:

– 324 metres to the Royal Oak Hotel Cessnock
– 764 metres to the heart of Town (Vincent Street)
– 358 metres to Cessnock Performing Arts Centre
– 2.4kms to Cessnock Showground
– 1km to TAFE NSW Cessnock
– 1.4kms to Cessnock Public School
– 40m to Cessnock Highschool
– 2.4kms to Cessnock Hospital
– 1.1 km to Cessnock Central Shopping Centre
– 11.6 km to Pokolbin Vineyards
– 28 km to Maitland
– 25.9 km to Maitland Hospital
– 152 km to Sydney

You will be impressed, with what is currently on offer

An inspection is imperative! Don’t miss out!

Inspections by appointment or advertised time!

For further details please contact Simon Viglino on 0404 52 53 73