4 Pitt Street Mayfield NSW 2304
Outstanding Investment Opportunity- 46 Bedroom, 18 Bathroom Boarding House!4 Pitt Street, Mayfield
The property returned over $300,000 gross in the financial year 2016/2017. The current income is generated completely from student accommodation. To ensure the property is run successfully the owner will only allow students exclusively. They are signed up on a lodgers agreement on a minimum of 3 months and a maximum of 12 months. The weekly board they pay covers their electricity, gas and internet connection. They pay for their own meals and laundry. There is also room to grow this income as there has not been an increase on the rents over the past 2 years.
The location of the property in Pitt St, Mayfield is perfectly suited to students. It is only a short walk to Maitland Rd that has access to buses to Newcastle University, Tighes Hill TAFE and the City. Mayfield also has an excellent strip shop with Woolworths, McDonalds and KFC. There is also an approved development for a Coles Supermarket and other speciality shops.
If this is an investment that interests you we can supply an information memorandum with further information. Owner is committed to selling so don’t miss out, enquire today!
- No inspections scheduled
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Real Estate For Sale in Mayfield, NSW 2304 priced between $2,200,000 and $4,000,000