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The 31 room Level 1 approved Boarding House is being offered to the market for the first time since 2004.
The property is located in the heart of Lutwyche with close proximity to Market Central Shopping Centre, Kedron Brook and the Brisbane City Council bus network.
The accommodation is in great condition with kitchens and bathrooms regularly maintained and rooms updated frequently.
The fully leased income is approximately $265,000 per annum, plus $,5000 per annum earned from the on-site laundry machines. Running costs are approximately $45,000 PA + Management (currently quid pro quo for accommodation at the adjoining property)
The experienced on-site manager is a great asset to the property, maintaining good order and high levels of occupancy approximately 93% - Nov 19 - Nov 20).
Please email me for an Information Memorandum and supporting documents.
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