Original Styled Boarding House With Value-Add Potential

  • Sold $2,200,000
18 Morgan Street, Petersham NSW 2049
Featured Commercial Sales Commercial Sold Sold

Original Styled Boarding House With Value-Add Potential

18 Morgan Street, Petersham NSW 2049
  • Sold $2,200,000

Description

D’Ettorre Real Estate is delighted to present a unique opportunity to the market. This property is a licensed class 3 boarding house, approved for 9 rooms and 22 occupants. Ideally positioned on a corner block, it boasts a generous 521sqm land size. The property retains its original condition and offers immense potential for value addition, leading to a substantial increase in current yields.

Property overview:

  • Accommodating 9 rooms including 1 managers quarters, 3 bathrooms, communal kitchen and separate laundry
  • The property has two separate dwellings
  • Current income approximately $75,920 per annum
  • Opportunity to renovate and increase tariffs or totally redevelop to increase rooms and bathrooms S.T.C.A or change use as a grand home or redevelopment project S.T.C.A
  • Land size 521 sqm
  • Zoned R2 Low Density Residential
  • Height: 9.5m- FSR: 0.6:1

The property enjoys a sunny north facing aspect with dual street access with its convenient corner position via Napier Street.

It is only a short stroll to New Canterbury Road with its variety of famed Portuguese eateries, cafes and transport. Petersham is located 6 kilometres south-west of the Sydney CBD

Inspections by private appointment or as advertised.

Details

Updated on September 30, 2023 at 9:31 am
  • Property ID: DET-13891
  • Price: Sold $2,200,000
  • Land Area: 521 m²
  • Bedrooms: 9
  • Rooms: 9
  • Bathrooms: 3
  • Property Status: Commercial Sales, Commercial Sold, Sold
  • Inspection Date: Inspections by private appointment or as advertised.

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Dominic D’Ettorre
  • Dominic D’Ettorre