Price Reduction - Now Offers at $2,300,000
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40 Waghorn Street, Ipswich QLD 4305

Other
3048
Block size: 2488 m² approx.

HIGH INCOME EARNING INVESTMENT - $290,000.00 P/A GROSS

A solid income-earning investment, High occupancy rates, and more than half an acre of land.

This fully licensed boarding house and rooming accommodation complex offers the astute investor a steady annual income stream from its 34-room facility at approximately $290,000 p/a with a further $100,000 P/a growth potential, PLUS!!

This complex incorporates a shared type of arrangement between residents with its commercial grade Kitchen, Laundry facilities, toilets, bathrooms, and common areas. While each room offers free Internet, its own Fridge, Bed, & other furnishings. Plenty of parking is available on site for its longer-term residents, along with a huge block of land at around 2,488m2.

Alongside the main dwelling is a medium sized second structure with current development approval for a further 12 rooms. Although quite run down and in need of major work, a substantial renovation would offer increased annual earnings of approximately $100,000 plus, at the current going rate of $165 per week, per room.


Features
- Licensed 34-room boarding house in the heart of Ipswich CBD
- 3-storey dwelling with side access and large block - 2,488m2
- High ceilings, tiled floors, and fresh interiors in most rooms
- Large rooms with bed and storage, fridges, and other furnishings
- 4 bathrooms, 4 toilets, kitchen, and plenty of onsite parking.
- Shared laundry - with coin operated washing machines
- 6kw solar system (Approx)
- Security cameras throughout the complex
- Staff office and janitor's closet
- Covered parking for around 6-8 Cars.
- Extra open space parking
- Fire and safety accredited
- Current gross return $290,000 per annum approx.
- Great property managers, happy to continue under new ownership.


The 2,488m2 block is at an elevated position within Ipswich city, very close to the CBD. Tenants have plenty of public transport options and are within a few 100m walk to all the Hospitals, Shopping Centers, universities, and other CBD amenities.

The building is fully certified by Fire and Safety and has had many upgrades recently. Currently managed through a local agency who are well experienced in the rooming and boarding house accommodation sector and are more than happy to continue managing the site for the new owners.

For a complete copy of the information memorandum and a link to visit the 360 degree interactive walk through video, please call Piers Crawford or Steve Landeta.



Disclaimer:
While preparing this information we have used our best endeavors to ensure that the following information contained therein is true and accurate but accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Prospective purchasers should make their own enquiries to verify the information contained here.

Inspections

No open inspections scheduled.

Send an enquiry

Contact Steve Landeta to learn more about this property, request an inspection or take an online tour.

Key details

Bedrooms:
30
Bathrooms:
4
Carport spaces:
8
Property type:
Other
Block Size:
2488 *

Other Details

Lot:
42
Plan Type:
SP
Plan:
190397
Legal description:
42/SP190397
Ray White Holland Park

Maps and area information

Block information
Block size: 2488 (approx)
Legal description: 42/SP190397
Block Map
Measurements are estimates only and based on data provided under licence from © PSMA Australia 2024.
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A block's planning zone defines how that land can be used and what can be built on it.
A right to use a part of land owned by another person for a specific purpose. The most common forms of easements are for services, such as water, electricity or sewerage.
The value of a block of land without any buildings, landscaping, paths, or fences. This is different to the block's market value. A block's unimproved value is used to calculate rates and land tax charges.
This represents the shape of the geographical land. Closely spaced contour lines represent a steep slope. Widely spaced lines represent a gentle slope.
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Property history

We couldn't find any history for this property.
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Ipswich suburb information

A little bit about who lives locally, as provided by government census data
SummaryMedian sales
Average Age
45 years
Population
2,468
Listing ID: 181682002. This listing has been viewed 67 times. It was first displayed on 07/06/2023 and last updated on 29/11/2023.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.