The buildings offer a combined 26-rooms of residential boarding facilities and will appeal to the most astute of property investors.
The ‘Bunting Street Boarding House’ provides affordable accommodation to their residents. All the rooms come furnished with a bed, individual fridge and small wardrobe.
Currently leased on short term rooming agreements, the rooms fetch between $120-$200 per week (Avg. $150pw). Financial information is available on request.
The property is fully licensed by Cairns City Council and Department of Housing Queensland for 28 occupants. Certificates of compliance can be provided for emergency lighting, smoke alarms and extinguishers.
The property has four kitchens along with two living rooms and five bathrooms. Coin operated washing machines are provided for tenants and in turn generate a small income.
The property is situation on a large 1,214m2 lot and is securely gated and fenced.
Zoned under the Cairns Plan as Medium Density Residential there is the possibility of adding buildings/rooms to site to further improve the return and potentially add value of the property.
Located only a short walk to shops and being only 2km from the Cairns CBD this property is a popular location with residents.
Inspection of this property are by appointment only.
For more information, please contact Belinda Woodburn of Felix Grasso Real Estate on 0407312293.