Offering 14 bedrooms, 3 kitchens and 3 bathrooms, the returns on this great investment in central Albury are well above average! Currently run as a boarding house, and turning over approx. $1,700 per week, there is still scope for improvement with 2 rooms vacant at present. (Data correct at time of listing)
Extensive renovations have been carried out with 12 bedrooms, 2 bathrooms and 2 kitchens complete, leaving just 1 bathroom, 1 kitchen and 2 bedrooms to be updated. 31 solar panels have been installed to reduce outgoing costs. Each bedroom is individually heated and cooled for year round comfort and each has a wardrobe, a TV and a single bed. There is a communal lounge upstairs and room for another downstairs.
The block is a generous 871m², providing plenty of space for outdoor entertainment and additional parking. There are 2 huge old palms at the front of the property, so it has been lovingly named "The Palms" by all residents. Directly across the road a lovely lagoon with an abundant array of birds offers a peaceful outlook.
Perfectly situated approx. 1km to Dean St, in a quiet area without much traffic. South Albury is becoming increasingly popular for new construction and renovation projects, given all this convenient location has to offer! Just a short stroll to the Albury CBD with its thriving restaurant, bar and entertainment precinct, and with approx. 14% gross return, this property offers a fantastic opportunity rarely seen. Book your inspection today.
Open for Inspection