18 Morgan Street Petersham NSW

D’Ettorre Real Estate is delighted to present a unique opportunity to the market. This property is a licensed class 3 boarding house, approved for 9 rooms and 22 occupants. Ideally positioned on a corner block, it boasts a generous 521sqm land size. The property retains its original condition and offers immense potential for value addition, leading to a substantial increase in current yields. Property overview: – Accommodating 9 rooms including 1 managers quarters, 3 bathrooms, communal kitchen, and separate laundry – The property has two separate dwellings – Current income approximately $75,920 per annum – Opportunity to renovate and increase tariffs or totally redevelop to increase rooms and bathrooms S.T.C.A or change use as a grand home or redevelopment project S.T.C.A – Land size 521 sqm – Zoned R2 Low Density Residential – Height: 9.5m, FSR: 0.6:1 The property enjoys a sunny north facing aspect with dual street access with its convenient corner position via Napier Street. It is only a short stroll to New Canterbury Road with its variety of famed Portuguese eateries, cafes and transport. Petersham is located 6 kilometres south-west of the Sydney CBD. Inspections by private appointment.