Rare Investment Opportunity, Fully-Renovated, Licensed Boarding House

Description

Strathfield Partners and Ian Ritchie Real Estate are proud to present 320 David Street, South Albury to the market for Auction.

Discover this exceptional investment opportunity in the thriving South Albury real estate scene with this recently renovated, meticulously maintained boarding house. This property offers a robust rental yield, secure long-term lease options, and a prime location near the city's bustling CBD and a serene, picturesque lagoon.

Key Property Features:

* Fully renovated, council-approved boarding house, licensed for up to 12 long-term tenants
* Prime location in South Albury, within walking distance of the CBD and a beautiful lagoon
* 14 individually metered rooms, each with separate air conditioning units
* A secure property with CCTV monitoring and a swipe card system for added peace of mind
* Weekly cleaning contracts in place, ensuring a well-maintained property
* High rental demand with an extremely low vacancy rate – just 0.6%!
* Recent fire safety upgrades to ensure compliance and tenant safety
* The property features a solar panel system, helping to reduce electricity costs
* Freshly painted rooms, offering a modern, up-to-date feel
* Brand new, updated furniture and appliances added to all rooms
* Gross Rental Income: $148,720 p.a. (fully leased)
* Further benefits include NSW land tax exemptions

The property's 14 rooms include 11 fully furnished rooms and a separate room for a Deluxe Studio. With a history of long-term tenants, a low vacancy rate, and an impressive rental yield of $220-$250 per week (with the Deluxe Studio rented at $350 per week), this is an effortless investment that will add significant value to any portfolio.

Contact our exclusive selling agents today.

Didem Polat 0405 044 297
Stephanie Pearson 0473 651 230