Interesting opportunity for investors searching for a high rental return property. This 7 bedroom boarding house is well-located in central Allenstown and holds mostly long-term leases to wonderful tenants with a gross return of almost $50,000 per annum, representing a very high yield on investment. The building is in good condition, and the property is a gilt-edged addition to a new or existing real estate portfolio.
Current rental investment yield of 12.5% 7 single bedroom, retro studio apartments Varying leases (most long term) returning $960 per week Cosy, eat-in kitchenettes with oven/microwave Each studio has air-conditioning, ceiling fan and cupboards Larger common room for community/group use Shared bathroom and laundry facility 493m2 level lot, maintained and fully fenced Central Allenstown location to suit possible future redevelopment Current use is women's boarding complex with good tenants