Property ID: #3199218
BLUE CHIP INVESTMENT
Previously a church building and residence and converted and approved in 1998 as Hostel Accommodation for the Church, this is currently operating as a 12 bedroom student accommodation facility, very handy to the University a short 10 minute stroll away and the Mater Hospital.
Comprising two brick and tile residences on 2 separate titles totalling 1123m2, this lot is prime for re-development in up and coming Waratah.
Each building contains 6 lettable bedrooms, a large communal style kitchen/lounge rooms, bathroom, second toilet and ample off street parking.
The buildings are in fair condition and has been operated by the current owner since 1999.
Management of this facility is available.
Currently returning $72,000 gross per annum as its current usage as Student Accommodation, a very healthy position for the new owner whilst considering and planning the redevelopment of these lots.
Contact agent for details
Saturday, 22 Jul 2017