“Kingslodge” 59 Budget Studio Lodging. Circa 1970’s Classic 4 Level Free Hold Block On 973 Sqm Of Land.

“FIRST TIME OFFERED IN 30 YEARS”

Property overview:
59 x Fully Self-contained studios
4 x retail shops & huge basement / workshop area
GAR combined income FY 2019 – 2020 $969,051.16.
Telecommunication towers leased at $70,000 per annum
3 communal kitchens one per each level – Coin operated laundry facilities
Security block with swipe key access at all points of entry, CCTV on all levels
Highspeed integrated WI-FI optional for all rooms
Foxtel cables installed
Huge first level outdoor north Facing terrace area with Clothesline facilities.
Delightful top floor generous outdoor sunlit terrace, common seating & BBQ area
Front and rear stair well access with direct roof top access from rear stairs.
Stunning roof-top with magnificent 360 district views
Security under cover parking bays
Land size 971.7 sqm – Zoning Neighbourhood centre B1
Handy 3 street frontage
Construction circa 1970’s double brick and concrete slab
Potential to increase current yield.
A proven and secure cash flow through Covid-19 restrictions
Same owner for 30 years,
Further development potential with current DA approval for Medical centre and elevator service.
Sold as a going concern with all tenants and furnishings included

On the doorstep to bus stop with routes to UNSW, Westfield Eastgardens, Kingsford shopping strip, Maroubra Junction, both Sydney International & Domestic airports and CBD. Only a short stroll to the Sydney light rail network on Anzac Parade Kingsford.

CONJUNCTION AGENT:
R&H Kingsford/Kensington
Sam Karatasas
M: 0418 280 923
O: 8397 7878
sam.karatasas@kingsford.rh.com.au

INSPECTIONS BY APPOINTMENT