37 Norman Street, Waratah West NSW 2298

An ideal investment or a profitable one to add to your portfolio. Established Student Accommodation located within sight of Callaghan Campus returning approximately $75,000 per annum, currently tenanted at $1,500 total per week approximately.

This property has been purpose designed for student accommodation and has been fully tenanted since its creation 5 years ago. All leases are in place and return stays constant throughout the change of hands. With entrances from Norman Street and Delauret Square, the home has quality furnishings throughout with easy management and rental systems in place.

A renovated and extended 8-bedroom house with 2 bathrooms, dual hob kitchen, generous common areas plus commercial laundry setup and third toilet. The property was completely rewired and re-plumbed approximately 3 years ago.

Bedrooms are zoned front, middle and rear to optimize the use of common areas while maintaining privacy. All bedrooms are modern, secure and fully furnished with a double bed and mattress, side tables and lamps, built-in wardrobe and study desk with lamp and ergonomic chair, personal bar fridge, Television plus ceiling fan. The exception is room 4 which has a king single bed and standalone desk. There are approximately 7 double power points per room, hard wired smoke detectors and TV connections.

Entry via Norman Street will bring you into a foyer with sensor and safety exit lighting. There are two modern bathrooms before coming to a large kitchen. The kitchen includes a common fridge and dual cooktops and exhausts. A modern fan forced oven sits under one cooktop.

The common area expands to include a dining table with bench seating for 8 plus. The laundry is complete with a commercial stacker washer dryer and is accessed from the dining room as is a third toilet. There is also a side entrance to the house.

The dining area flows into a living area with a conversation area and comfortable leather lounges facing a flat screen TV. There is also gas heating and a ceiling fan.

The rear sliding doors open onto a balcony with outdoor seating and gas barbeque. From the balcony the university is clearly seen. The backyard is grassed, shaded and inviting. There is a clothes line and a fresh water tank. Access to Delauret Square is through a security gate. There is convenient public transport 200 metres from the back gate.

The house has easily maintained polished floorboards throughout, except for the tiled bathrooms. Bedrooms are equally floorboarded or carpeted.

The side driveway leads to a concrete parking area for 4 cars. Under the back balcony there are lock boxes installed and a storage room for use by tenants and landlord. Tenants can store bicycles and large items.

This is a business set up by a couple with a long and successful history in short term and serviced accommodation. Rent is currently done by fortnightly bank transfer. The premises are cleaned weekly and presents in almost new condition.

INSPECTION BY APPOINTMENT ONLY.
Contact Joe Di Claudio on 0412 251 434 or (02) 4960 0499 for more information.

Dowling Mayfield are your local Real Estate experts. We have a large data base of clients, buyers and landlords, always looking for their next Real Estate purchase. If you have been thinking of selling, chances are we already have the buyer for your property. Please call us today on (02) 4960 0499 to receive specialist advice on your home or investment property.