7 Electra Street, Bundaberg Central

RENTAL INVESTMENT 14 BED BOARDING HOUSE PLUS 2 BED ACCOMIDATION. 100 meters TO HINKLER SHOPPING CENTER,

LOCATION LOCATION LOCATION , Owner presently renting 12 rooms occupying 2 rooms for personal use that can be add to rental list making a total of 14 room.
Comprising of a high set Queenslander with 8 rooms, kitchen and sitting/dining area. Behind the 2 story concrete block (ground floor) and hardy plank building consists of 6 rental rooms downstairs with kitchen and dining area and above is a modest 2 bedroom residence that renovations beckon. With the whole area under the Queenslander usable for storage. There is a double color bond garage at the rear of the 1/4 acer block. The facilities also have a BBQ/ outdoor sitting area between the two buildings.
Rents vary with the base rate of $190 per week and is depending on each guest's individual circumstances. deductions are made for cleaning duties, and charges for accessing to the internet, running air conditioners and or refrigerators in ones room, being factors to individual rents,
Owners have installed solar before the battery era and it would be wise to be reassessed with regards to all the improvements that have happened since installation.
Having run the establishment for 16 years Owner wants to retire.
The (110 year) 2013 flood went through the bottom floor with minimal damage, the upstairs residence and 8 rooms in the Queenslander were high and dry.
A great investment with lots of potential to increase real cash income. WOULD SUIT OWMER OPERATERS /HANDY PERSON TO MAXIMISE THE INCOME, as it would add approximately $600 to the weekly income by doing the work yourself. Room rental rate has lagged behind market rates as up to a few years ago they were equal to the permanent camp site charges in the Bundaberg area van parks. The location of this boarding house is a great advantage. Being able to walk almost everywhere in the city with no need of a vehicle on a daily basis a big living cost saving. For example a caravan park on the outskirts of town is charging $290 per week rental for a van and annex where you have to walk to shower/ toilet and cooking facilities. You also pay for power usage.
Inspection DON'T DELAY call Ben Martelli 0404 803 714 TODAY.
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