Invest or Value Add - Fully leased boarding house close to Coogee Beach

Details

I.B Property & Ray White are pleased to present this fully leased boarding house investment in one of Sydney’s most popular beachside locales.

Nestled into the hillside on one of Coogee’s best-known streets, 302 Arden Street is a well-maintained 3-storey boarding house investment with the potential for further value-add through renovation (STCA).

Retaining much of its beautiful Victorian-era grandeur, the property features 12 rooms, including two brand-new ensuite bedrooms with complete kitchenettes and immaculately presented indoor/outdoor areas. Positioned on an elevated north-east corner, further value add opportunity is available through the expansive attic space conversion to take advantage of the beautiful sea views (STCA).

Key Highlights
– Well maintained & renovated boarding house
– 12 rooms including two new ensuites with kitchenettes
– Fully leased investment with a current gross passing rent of $342,579 per annum*
– Value add opportunity through renovation (STCA)
– Newly constructed lower level with additional internal bike parking, accessible accommodation and bathroom
– Opportunity to convert the existing huge attic storage area to two self-contained studios (STCA)
– A popular choice of accommodation amongst professionals, students and travellers seeking a beachside location
– Premium coastal location only a short stroll to Coogee Beach, cafes, shops and restaurants

I.B Property & Ray White are excited to offer 302 Arden Street, Coogee for sale by Expressions of Interest.

For more information or to register for the next inspection, please contact Paul Grasso 0434 497 793 or Steffan Ippolito 0403 347 111.