3/7 Fortescue Street

East Fremantle WA 6158

This four-unit apartment complex and associated landholding in the heart of East Fremantle is offered to the market as a single entity for the first time in more than four decades - an extraordinary opportunity is on offer here!Located in the historic Woodside precinct, admired for its treelined streets, fine heritage homes and friendly neighbourhood culture, this property is currently home to four well maintained and generously sized character apartments. Built in the 1950s, the property boasts four one bedroom, one bathroom apartments - two on the ground floor and two on the upper level. The apartments are reflective of the aesthetic of their era with high ceilings, solid jarrah flooring, timber window frames and generously sized rooms. The properties have been leased to long term tenants, providing a regular, long term, stable income for the current property owner. With a current market rental estimate between $500-$600 per week on each unit, this offers a fantastic investment opportunity for the future purchase. Lease out as is or renovate and reimagine the existing property to attain a higher yield. Options include converting the current building into one residence, two apartments or two townhouses (all STCA). For those looking to start afresh, use the site as a blank canvas to design and build your dream home (STCA).With the property set back from the street, the generous quarter acre landholding boasts plenty of space both front and back offering endless options for customised landscaping. At the rear is a three car garage plus plenty of additional parking. There are two laundry rooms adjacent to the garage. These could be converted into a fourth garage, and the internal bathrooms are generous enough to convert to a bathroom with combined laundry.The prime position of this unique property is just minutes away from some of the areas best restaurants and bars including The Left Bank, May Street Larder, Jetty and Sweetwater Rooftop Bar. The iconic George Street cafe strip, the Swan River, Fremantle Centre and Port Beach are all nearby.This is a premium location offering significant investment potential and a range of options available to the ultimate purchaser. For further details please contact Exclusive Selling Agent Clare Hickey-Shand from Yard Property on 0424 593 1364 bed 4 Bath 3 Car 1012sqmUnique offering in blue-chip location, built circa 19544 x one-bed, one bath apartments on separate strata titles3 single car garages, additional car baySet on a generous 1012sqm landholdingNo heritage listingR/C Air-conditioning to each unitPremium location within minutes from the river, schools, Fremantle and shoppingApprox rental income $2000 - $2400 per week as is ($500 - $600 each apartment)Redevelopment or renovation potential (STCA)230m to Transperth Bus Stop500m to Fresh Provisions, Woolworths Stammers700m to East Fremantle new Community Park700m to Richmond Primary 850m to May St Larder (the Good Grocer coming late 2024)1.2km to The Left Bank and Swan River1.3km to George Street1.6km to East Fremantle Tennis and Yacht Clubs2.1km to John Curtin College of the Arts3.2k to Port Beach3.3k to Fremantle Train StationDISCLAIMER: This information is provided for general information purposes only and is based on information provided by third parties and may be subject to change. No warranty or representation is made as to its accuracy and interested parties should place no reliance on it and should make their own independent enquiries.