Newtown shop and home offers buyers multiple income streams
Savvy buyers are gearing up to have a crack at a rare shop front in the heart of the Newtown’s King St.
The building has three bedrooms and is being offered for the first time in more than 30 years.
With a $1.35 million guide, 432 King St at Newtown sits on 167sqm and is due to go to auction on August 29.
The property is one of the first listings for Adrian William — a new agency started by local real estate agents Adrian Tsavalas and William Pereira.
Tsavalas says the property is unlike anything that has been for sale on King St in recent memory.
“It has been several years since a single street shop and residence has sold on the Newtown strip,” he says.
The property is described as an entry-level opportunity to get a foot into the lucrative King St market, and is set to appeal to investors and those looking to run a business out of it.
Spread across three levels and with the shopfront separate from the residential area, the property also enables the purchaser multiple income streams.
“An investor could easily reconfigure the floorplan to get three income streams from the shop, upstairs and the rear studio,” Tsavalas says.
The lower ground has a studio, laundry and kitchen, while the first floor has two bedrooms.
A shop front, second kitchen and a back office can be found on the ground floor of the premises.
The unique listing comes at a time when real estate agents are reporting strong buyer turnout at open homes.
“For every property we show at the moment, we are still getting two to three qualified buyers who are ready to make a move,” Tsavalas says.