House for Sale
Hostel Accomodation with Potential Plus/Leased for 12 Months
Property ID 1845862In an area where development & construction is underway, why not buy something already developed and ready to go? This Backpacker Hostel is approved for up to 12 people including an onsite manager.
The property is currently under lease, with returns of $550 weekly through until 1/1/2019.
This gives you the time to implement your business plan, do any required renovations or improvements and prepare your investment to shine!
All of the approvals are in place, all you need to do is sit back and enjoy the returns of up to $62,920 per annum. You haven't read that incorrectly, if you charge a flat fee of $110 per person calculated on 11 people at full capacity for 52 weeks of the year, $62,920 will be your gross annual return.
The on site manager quarters has not been included in any calculations as this is a case by case scenario to be discussed and implemented by the new owner.
This property comes with:
- 2 fully functional kitchens (1 upstairs, 1 downstairs)
- Air conditioned inside the manager's quarters (also doubles for disabled bathroom)
- 4 showers
- 3 toilets
- 5 bedrooms
- 3 store rooms
- Front balcony
- Downstairs common area
- Upstairs lounge/dining room
- 5kW solar system
- Fully landscaped
- 5 car parks
- Smoke detectors
- Downstairs laundry
- 2 x water tanks
This is something that won't come along every day. All on site chattels and furniture can be discussed as part of the contract.
For further information on how to secure this investment, please call Sean Owens today.
* Please note, all figures and percentages have been calculated at full tenant capacity charging $110 per week for 11 tenants over 52 weeks of the year. 11.9% return has been calculated on a $525,000 purchase price with gross returns at $62,920 per annum.