New-Age Boarding House With Valuable Double Lock-up Garage

D’Ettorre Real Estate is proud to offer this charming, high-yielding new-age 7-unit boarding house, set in a refurbished freestanding Italianate Victorian terrace with rear lane access, valuable double garage, and situated on 313 sqm of land.

Property Features:

Each unit is self-contained, offering the perfect blend of comfort and convenience.

7 refurbished self-contained loft-style units (mix of studios and 1-bedrooms), each with private kitchenette and bathroom

Convenient common laundry facilities

Top level accommodates a spacious attic room with expansive district views (unused)

Gross annual return for 2022-2023 = $113,242; for 2023-2024 = $140,753; Projected for 2024-2025 = $171,550

Land size: 313 sqm

Handy rear lane car access via Young Lane

Valuable double lock-up garage

Potential to add value by erecting studios above the garage and converting the top floor (STCA)

Nestled in one of Annandale’s most sought-after streets, this charming new-age boarding house renovated into New York-style lofts offers a proven cash flow, along with further depreciation deductions, a prized offering in an ultra-convenient location. The property provides easy access to Sydney University, easy transport, and all major amenities, making it a popular location for students and professional occupants. The property offers clean, quality accommodation and represents an established investment opportunity.

Inspect: Wednesdays & Saturdays 12:00pm – 12:30pm

Auction: In-rooms at AuctionWORKS, 10:30am Tuesday 29th October 2024