109 Richmond Terrace
Coraki, NSW 2471

Overview

109 Richmond Terrace Coraki NSW 2471

This exceptional property at 109 Richmond Terrace, Coraki, presents a rare opportunity for investors and buyers seeking a versatile mixed-use asset in a prime riverside location. The property is offered for sale by auction, featuring three established income streams on a single title, making it a highly attractive investment with immediate returns and future flexibility.

Situated directly opposite the scenic Richmond River and within walking distance to local cafes, shops, and essential amenities, this property combines lifestyle appeal with strong, reliable income. The current owners have secured long-term tenants who are committed to remaining, ensuring a positively geared investment.

Income Overview:
- Rear residence on Church Lane generates $440 per week
- Front residence on Richmond Terrace yields $480 per week
- Commercial shopfront leased at $7,200 per annum
- Total annual return of $55,016

Property Highlights:

Rear Residence – Church Lane:
- Four spacious bedrooms providing ample accommodation
- Open-plan living, kitchen, and dining areas designed for comfortable family living
- Bathroom equipped with a walk-in shower, bathtub, and separate toilet for convenience
- Covered balcony offering outdoor relaxation space
- Single-car garage for secure parking
- Notably, the habitable floor level remained unaffected during the 2022 flood event, ensuring safety and resilience

Front Residence – Richmond Terrace:
- Five bedrooms featuring built-in robes for storage
- Two bathrooms, one on each level, enhancing functionality
- Updated kitchen with timber benchtops, modern cabinetry, dishwasher, and electric stove, blending style with practicality
- Renovated laundry and flooring throughout
- Soaring ceilings throughout the home that showcase heritage charm and character
- Front bedroom boasts a picturesque river outlook, enhancing the living experience

Additional Features:
- Income-producing commercial shopfront currently leased
- Large storage shed with toilet facilities servicing the commercial space
- Double covered carport providing additional parking and protection
- Low-maintenance front courtyard overlooking the Richmond River, perfect for outdoor enjoyment

Location Benefits:
• Positioned directly opposite the Richmond River, offering tranquil water views
• Neighbouring popular local businesses including a café and hairdressers
• Only 30 meters to Memorial Park and playground, ideal for families
• Approximately 250 meters to Spar supermarket, bakery, and butcher for daily needs
• 1.4 kilometers to local primary schools, convenient for families with children
• 24 kilometers to the beautiful beaches of Evans Head
• 25 kilometers to the CBD of Lismore, providing access to city amenities

Whether you are an investor seeking multiple income streams, a buyer desiring mixed-use flexibility, or someone looking to reside in one residence while leasing the other properties, this versatile offering meets all requirements. With strong rental returns, established tenants, and a coveted riverside location, 109 Richmond Terrace represents a smart and future-focused addition to any property portfolio.

Disclaimer: The information provided is based on details supplied to the agents. Prospective purchasers should conduct their own enquiries and form independent judgments regarding the property.

Location