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

  • AUCTION
64 Annandale Street, Annandale
  • Boarding house
  • Property Type
  • 7
  • Bedrooms
  • 7
  • Bathrooms
  • 2
  • Garages
Commercial Auction
New-Age Boarding House With Valuable Double Lock-up Garage
64 Annandale Street, Annandale
  • AUCTION

Description

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 = $170,820

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

Details

Updated on September 30, 2024 at 4:04 pm
  • Property ID: DET-15362
  • Price: AUCTION
  • Land Area: 313 m²
  • Bedrooms: 7
  • Bathrooms: 7
  • Garages: 2
  • Property Type: Boarding house
  • Property Status: Commercial Auction

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Dominic D’Ettorre
  • Dominic D’Ettorre