Dominic D'Ettorre
Agent Name
Australia | Annandale
64 Annandale Street, Annandale, NSW 2038
New-Age Boarding House With Valuable Double Lock-up Garage 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.
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