5 Wallace Street

Islington NSW 2296

Behind the charming cottage façade of this inner-city gem, you'll find a versatile home ready to adapt to your needs. With two or three bedrooms in the main house – the choice is yours – plus a separate one-bedroom granny flat at the rear, this property offers many options. The house has been thoughtfully updated, blending modern comforts with original character like the working fireplace in the kitchen or the timber-lined walls. A spa bath, plantation shutters, air-conditioning, and a covered alfresco area add 21st-century appeal. Plus, the hefty 8.5kW solar system across both properties helps keep those utility bills in check. The granny flat provides the perfect setup for a multi-generational family, guests, or tenants. It offers privacy and independence, ideal for older relatives, adult children saving for their own place, or as a rental or Airbnb opportunity.
The options here are varied: live in one and rent out the other, demolish the granny flat and extend the home into the backyard (STCA), or maximise your investment returns by renting out both for a potential income of $1,000 to $1,500 per week. Dive into a world of coffee shops just 350m away on Beaumont Street. With a quick commute to Sydney from nearby Hamilton Station, and Newcastle city centre and beautiful beaches reached in no time, this property combines convenience with versatility.

Main House: