1/85 Cherry Street, Ballina NSW 2478

For Sale $770,000

  • 3 Bed
  • 1 Bath
  • 2 Car
  • 413 sqm (approx) Land Area

APPROXIMATELY 7% GROSS RETURN

This well positioned, freehold investment opportunity offers a dual income with both tenants on fixed term leases.

What a great opportunity with a gross return of over 7%

Ideally situated on a high exposure location, the property is located across from Ballina Hospital, close to Bowling Club, Ballina CBD and handy to Primary & Higher schools, parks and North Creek.

Soul Cafe is situated at the front of the premises and is currently under commercial lease with indoor & outdoor seating (seats up to 55) & includes kitchen, toilet facilities & storage.

The rear of the premises is currently tenanted and comprises of a combined kitchen/dining area with timber floorboards, good size lounge area, three bedrooms, neat and tidy bathroom and private fully fenced backyard.

With the gross rental return of $54,600 (approx.) per annum and the potential to grow and add value this property is a sound investment opportunity.

Current lease details include:-

Commercial, 2 x 1 year lease, rent + outgoings

Residential, 12 month lease

Rent totalling $1,050 per week for both. Tenants are happy to renew their leases.

Further details upon request.

Approximate distance to:-

Opposite Ballina Hospital

250m to Cherry Street Bowling Club

600m to North Creek

900m to Coles, Kmart & Ballina Central shopping centre

950m Ballina Fair & Cinemas

1km to Ballina CBD & Richmond River

1.4km to RSL Club

4km to Ballina Byron Airport

2.5km to Lighthouse Beach

4.2km to Shelly Beach

3.6km to Ballina Golf Course & Club

Make enquiry

This property is proudly listed by:

First National Real Estate Wal Murray & Co Ballina 101 River Street
Ballina NSW 2478

Open for Inspection

By Appointment

Additional information

Property Type House
Property ID 11974100631
Price $770,000
Council Rate $4,122
Water Rate $2,500
Land Area 413 sqm (approx)