Architecturally Designed New Age Boarding House, In Bourgeoning Growth Corridor
A unique freestanding investment opportunity in an ultra-central Eastern Suburbs address, this dual level Boarding House will appeal to investors seeking high returns, where a significant shortage of rental stock is driving up rents and creating demand for boarding house assets, whilst providing a hedge against inflation given the ability to adjust rents in real time.
Located in the health and education precinct of the Eastern Suburbs, the property will attract strong rental demand for boarding rooms from doctors, nurses, teachers, students and patient families.
Walkability is key, with Prince of Wales Hospital and UNSW within 15 minutes, as well as major shopping centres, cafes and parklands. Public transport is within close proximity being a one minute walk to buses and a five minute walk to the light rail, giving great connectivity to Sydney CBD and popular Sydney beaches.
Occupying a substantial 300sqm block with dual street access, this perfectly maintained property currently comprises of 7 self-contained studios (one with wheelchair allowances), each with their own kitchenette and bathroom, generous indoor and outdoor shared facilities, and a detached lock-up garage via Hincks Street.
- Gross Income: $178,000 per annum. - Site Area: 300 sqm approx. - Rooms: 7 self-contained rooms with bathrooms (5 single + 2 double rooms). - Parking: Detached garage for 2 cars, space for 3 motorbikes via Hincks Street. - Communal Area: Generous living room and courtyard, and laundry facilities. - Security: CCTV cameras, electro-mechanical key systems by Integrity Security. - Education: Immediate proximity of UNSW with ease of access to USYD & UTS. - Medical: Four major hospitals in Randwick Hospital Campus. - Infrastructure: 1km radius of $2.5 billion worth of infrastructure. - Transport Links: Light Rail, Bus, Arterial road links. - Lifestyle: Eastern Beaches, Randwick Racecourse, Parklands, Golf Clubs. - Retail: Maroubra Junction Pacific Square, Anzac Parade Shopping Strip. - Demand: High population of key workers and students; Surging rental market. - Supply: Limited affordable housing, New restrictions NGBH developments - Strategy: High yield, Low vacancy, Ability to hedge against inflation.
