Outstanding Hostel Investment near Cairns Hospital and Private Hospital. Located

28 days ago

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Internal Ref: 18145

Summary

There is an opportunity to take this well-presented property to the next level. This property is on 1012m2 and offers great scope to participate in supplying accommodation or facilities for those u...

About the Business

There is an opportunity to take this well-presented property to the next level. This property is on 1012m2 and offers great scope to participate in supplying accommodation or facilities for those utilising medical services in Cairns. Alternately, it could be maintained as a hostel/holiday accommodation located just one street from Cairns Esplanade, and a short distance to Cairns CBD.
Accommodation is divided into three separate buildings, which also includes a storeroom for hostel utilities.
Building One has 9 x self-contained apartments - 2 x 2 bedroom, 6 x 1 bedroom and a one bedroom studio apartment in a two-level solid brick building.
Building Two has 8 separate bedrooms with a communal kitchen, lounge and two bathrooms in a two-level solid brick building.
Building Three has 5 separate bedrooms, a communal kitchen, and a bathroom. The storeroom is at one end.
The property income streams have not been fully tapped to this point, and yet the property is still netting over $100,000 per year, based on the figures supplied.
The Holiday Flats/Hostel is a short 10 minute walk to town. The property has a well-maintained swimming pool area, a guest laundry with a coin-operated washing machine & dryer, and free wifi is available to guests.

Disclaimer:
We make no representation or warranty as to the accuracy, reliability or completeness of the information relating to the property. Some information has been obtained from third parties and has not been independently verified. Accordingly, no warranty, representation or undertaking, whether express or implied, is made and no responsibility is accepted by us as to the accuracy of any part of this, or any further information supplied by or on behalf our behalf, whether orally or in writing.
No entity or person guarantees the performance of the property. The information is general information only and any examples given are for illustrative purposes. The information does not consider your individual objectives, financial situation or needs. We recommend that you obtain financial, legal and taxation advice before making any decision. Any price is not a valuation and should not be relied on or treated as such. Prices, if indicated, have been estimated based on recent market evidence in the locality for comparable properties, to the extent available. Prices may not include GST.

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