Rare find — 10-12 Golf Pde, Manly.
THE drama of much-loved reno show The Block may be over for another year, but if you still haven’t had your fill, why not buy your own block and have some fun.
Like this block of apartments — a rare find in Manly — which comes with amazing potential.
It is on 743sqm of land in a quiet backstreet, and just 400m from the beach at Queenscliff.
The block at 10-12 Golf Pde, includes six apartments and an attached studio all on one title but there is the potential for capital gain if the seven premises are split and put on individual titles.
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Currently the median sale price for a Manly apartment is $1,363,750, according to CoreLogic. And the median asking rent is $775 per week.
Plenty of potential.
Each of the six apartments has two-bedrooms and a designated carspace. The studio is a one-bedroom, one-bathroom dwelling, at the rear of the block with a private courtyard.
The block is a solid double-brick building. All of the apartments have a functional layout, with high ceilings, timber or parquetry floors, open-plan living, gas kitchens with stone countertops and laundry facilities in the shower bathrooms.
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Bronte of the northern beaches
Two of the upstairs units have private balconies stepping off their living areas and all the upper apartments have Juliet balconies.
And two of the downstairs apartments have private and enclosed courtyards.
All of the apartments are currently tenanted and the gross annual revenue is approximately $235,000, with the potential to increase that figure.
Andrew Lutze, of Cunninghams Property, said the two-storey block of apartments had been held by one northern beaches family for generations.
The property is due to go to auction on November 24, with a price guide of $6,500,000.