Home Details for 24 Glebe Street

Strategic Investment Opportunity High-Potential Fourplex-- Each unit is so large it could be converted into 8 units. This income-producing fourplex, ideally located in the heart of Sydney, presents an exceptional opportunity for investors seeking both immediate cash flow and long-term upside. The property currently generates $2,000 per month from two tenanted units, with utilities included. The remaining two main-level units are vacant, offering immediate potential to increase income through new leases or renovation. Oversized apartments could easily be converted from 4 units to 8 units. Each of the four units is generously sized, and one has already undergone partial renovations. The layout and scale of the building present a rare opportunity to convert the existing four units into eight , significantly boosting rental revenue. Major systems have been updated, including a fiberglass oil tank, furnace, and roofeach approximately 10 years old. The building is heated with oil hot water, several windows have been upgraded, and there is a full basement with partial ceiling height for additional storage or utility use. Each unit has a separate electric panel and the tenant could be paying their own electrical. Five meters including one house meter. The property is ideally situated near downtown Sydney, with easy access to public transit, parks, shopping, and the universitymaking it highly attractive to both student and professional tenants. Whether you're a seasoned investor looking to reposition and scale an asset, or entering the market with a property that offers strong fundamentals, this fourplex delivers on location, size, and future potential. It's a rare opportunity to acquire a well-located, high-upside building in one of Sydneys most desirable areas for rentals (id:31684)