In a surprising design twist, a corner block building in Tempe, Sydney, that was once a convenience store has been transformed into a unique residence featuring three separate self-contained apartments. The property, located at 24 Griffiths Street, recently sold for $1.45 million after initially listing for $1.57 million.
Occupying 228 square meters, this one-of-a-kind property offers a total of eight bedrooms and four bathrooms. Each apartment is equipped with its own kitchen and bathroom facilities, providing individual living spaces for maximum privacy. Additionally, there is a converted double lock-up garage on the premises.
The potential of the property goes beyond its current layout. Prospective buyers have the option to renovate the existing structure or even build a brand new home or business, subject to council approval. The listing suggests that transforming the property into four separate rentals could generate a potential income of $350-per-week per unit, totaling $1,400-per-week.
The unique features of the property extend to its exterior as well. Adorned with a bold mix of graffiti and statement art, the building offers plenty of character. Inside, the rooms are spacious, boasting polished floorboards, and there is an open courtyard for residents to enjoy.
Situated in the suburb of Tempe, which is located 9km south of Sydney’s CBD in the Inner West, the property also provides convenient access to the city center, with a train station located directly across the road.
According to Domain’s House Price Report for the June 2023 quarter, the median house price for Tempe is $1,452,500. This indicates that the recently sold property achieved a price close to the suburb’s average.
In conclusion, this former convenience store in Tempe has undergone a stunning transformation, offering a unique living opportunity with its three self-contained apartments. With the potential for further development and its convenient location, this property proves to be a “unique proposition” for buyers seeking a distinctive and flexible living space.
– Gerard Inangeri and Richard Lane of Gerard Partners
– Domain: House Price Report for the June 2023 quarter