40 Waghorn Street, Ipswich QLD 4305

A solid income-earning investment, High occupancy rates, and more than half an acre of land.
This fully licensed boarding house and rooming accommodation complex offers the astute investor a steady annual income stream from its 34-room facility at approximately $290,000 p/a with a further $100,000 P/a growth potential, PLUS!!
This complex incorporates a shared type of arrangement between residents with its commercial grade Kitchen, Laundry facilities, toilets, bathrooms, and common areas. While each room offers free Internet, its own Fridge, Bed, & other furnishings. Plenty of parking is available on site for its longer-term residents, along with a huge block of land at around 2,488m2.

Alongside the main dwelling is a medium sized second structure with current development approval for a further 12 rooms. Although quite run down and in need of major work, a substantial renovation would offer increased annual earnings of approximately $100,000 plus, at the current going rate of $165 per week, per room.


Features
- Licensed 34-room boarding house in the heart of Ipswich CBD
- 3-storey dwelling with side access and large block - 2,488m2
- High ceilings, tiled floors, and fresh interiors in most rooms
- Large rooms with bed and storage, fridges, and other furnishings
- 4 bathrooms, 4 toilets, kitchen, and plenty of onsite parking.
- Shared laundry - with coin operated washing machines
- 6kw solar system (Approx)
- Security cameras throughout the complex
- Staff office and janitor's closet
- Covered parking for around 6-8 Cars.
- Extra open space parking
- Fire and safety accredited
- Current gross return $290,000 per annum approx.
- Great property managers, happy to continue under new ownership.


The 2,488m2 block is at an elevated position within Ipswich city, very close to the CBD. Tenants have plenty of public transport options and are within a few 100m walk to all the Hospitals, Shopping Centers, universities, and other CBD amenities.

The building is fully certified by Fire and Safety and has had many upgrades recently. Currently managed through a local agency who are well experienced in the rooming and boarding house accommodation sector and are more than happy to continue managing the site for the new owners.

For a complete copy of the information memorandum and a link to visit the 360 degree interactive walk through video, please call Piers Crawford or Steve Landeta.



Disclaimer:
While preparing this information we have used our best endeavors to ensure that the following information contained therein is true and accurate but accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Prospective purchasers should make their own enquiries to verify the information contained here.