“Macquarie Studios” New generation Boarding house built 2016

12 Modern Self-contained studios all with private verandas.

D’Ettorre Real Estate are pleased to offer this prized free standing New Generation Boarding House known as “Macquarie Studios” situated in the ever-popular Bay side suburb of Fennell Bay. With a proven income over the past 8 years as a popular & affordable lodging in the area whilst offering stylish and modern studios with clean & functional kitchenettes, modern bathrooms and hygienic vinyl flooring, each studio features an outdoor patio.

Depreciation benefits from a 2016 completion, strong occupancy record (currently with 100% occupancy) Significant opportunity to increase room tariffs and property yield.

All studios are on the ground floor enjoying easy level access. 2 of the 12 studios are specifically designed for those with limited mobility.

Property highlights

• Large level land on 859 sqm

• Purpose built in 2016 & architecturally designed throughout

• Current income with tariff increases as of 1/6/2024 = GAR $169,520.00

• Land tax exempt

• Further depreciation allowances at approximately $1,040,000

• Separately metered for water & Electricity (Occupants pay own utilities)

• All Studios have own numbered letter box 1 to12

• 12 Studios in total, Configuration of 7 Double Suites & 5 single Suites.

• Modern kitchens with European appliances

• Contemporary combined bathrooms and toilets

• All studios have handy laundry with combined washer & dryer

• All studios enjoy outdoor Patios/verandas

• Spacious communal living area with kitchenette

• Automated Security Locks/Secured building

Additional features

• Inventory included

• Fridge

• Combined washing Machine/ Dryer

• Microwave Oven

• Built in wardrobes & draws

• Ceiling fans

• All rooms with cooking extractors

• Security Video Intercom

Close to the local shopping precinct including restaurants and waterfront parks with buses at front door and just down the road from Fassifern train station all amenities are at hand.

                                    A popular Bayside suburb with strong leasing demand.

A prudent low maintenance Freehold investment with no land tax and depreciation advantages.