I.B Property proudly introduces a remarkable investment opportunity: a 12-room Boarding House at 115 Garden Street, Maroubra.

At the front of the property, you'll find a 3-4 bedroom cottage with a lounge room, bathroom, and eat-in kitchen. Additionally, attached to the cottage is a 2-storey double brick building featuring 8 fully furnished, self-contained studio apartments. Each apartment is equipped with its own bathroom and kitchenette.

Spanning an impressive 420 sqm* of land, this property offers ample space and includes a designated parking spot for one car. With an R2 Low-Density Residential zoning, the property is presently fully leased and functions as a registered 12-room Boarding House, offering a dependable income stream with an annual gross income of $191,364*.

This Boarding House benefits from its proximity to key landmarks like Maroubra Junction, Pacific Square Shops, Westfield Eastgardens, Maroubra Beach, University of New South Wales, and Prince of Wales Hospital. Easy access to Juniors Kingsford Light Rail and buses to the CBD.

Key Highlights:
• First time offered to the market in over 60 years
• Land area: 420 sqm*
• Fully furnished 8 studio apartments each with their own bathroom and Kitchenette
• Fully Furnished 3-4-bedroom cottage
• Fully compliant with fire safety regulations
• A communal laundry with a coin-operated washing machine and dryer
• Courtyard with a washing hoist and a shed, providing additional storage
• Rental reversion opportunity
• Unbeatable Location

This is your chance to secure an investment that redefines success.

115 Garden Street, Maroubra will be open every Wednesday between 12:00 pm -12:30 pm, and is for sale via Public Auction on Thursday, 28th of September 2023 at 10:30am.

Contact our exclusive selling agents to embark on a journey of prosperity with 115 Garden Street, Maroubra.