4 Pitt Street Mayfield NSW 2304

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$3.1 Million

Outstanding Investment Opportunity- 46 Bedroom, 18 Bathroom Boarding House!

4 Pitt Street, Mayfield
This is a once in a lifetime opportunity to secure a sound investment that has room to increase its return and also experience capital growth. What is on offer is a 46 room boarding house that features 11 rooms with an en-suite and 2 larger rooms. There is a further 7 shared bathrooms within the complex. There is a commercial grade kitchen which is used by the occupants for all their cooking. Also in the common areas is a spacious lounge area with big screen television and access to Foxtel as well as an undercover outdoor space that has gas bbq’s and seating for the residents.

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!
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Last updated 02:37PM on Nov 8th 2017
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LJ Hooker Hamilton

39A Beaumont Street
Hamilton NSW, 2303

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More property from LJ Hooker Hamilton
4 Pitt Street3/2 Teramby Road25 Harrison Street8 Teralba Road11 Dent Street6/43 Church Street

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LJ Hooker Hamilton

39A Beaumont Street
Hamilton NSW, 2303
More property from LJ Hooker Hamilton
4 Pitt Street3/2 Teramby Road25 Harrison Street8 Teralba Road11 Dent Street6/43 Church Street
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