244 Macquarie Street presents a unique opportunity in the Hobart real estate market to secure a property with a multitude of options. Whether it is for residential, professional or as profitable investment proposition, the choice is yours.
For over 15 years the front dwelling has been used as rental accommodation for students and city workers. Successfully rented by the room for up to $200pw, the 5 bedrooms share a large open plan lounge, well appointed kitchen and brand new bathroom. The carpet has been replaced and the home has been recently repainted. Given the proximity to the city, the dwelling also lends itself to professional rooms. It was previously used as a medical practice and could be returned to that use. There is one off street park at the front, however, it is just a short stroll to the CBD or Sandy Bay and the University.
The second dwelling, 244A/The Cottage is a compact 3 bedroom cottage with a layout to suit the student accommodation market. Rented as fully furnished and equipped, the cottage always enjoys a high long term occupancy rate due to its convenient location, ease of living and clean, well maintained condition. Rooms have been rented long term for up to $200pw each.
The third building is a 5 year old 6 bedroom, 1 bathroom house (2 toilets). Equipped with a spacious open plan kitchen and living area, the home was built with not only student/city worker accommodation in mind but as a well laid out family home. Constructed in 2015, this brick and timber home enjoys an enviable city position and has always been popular on the rental market. There is a solar system on the roof as well as some storage and a separate laundry room. Rooms have been rented long term for up to $200pw each.
Future opportunities exist to value add to the properties. With just a little work remaining, there may be the ability to strata title the three dwellings. There are also professionally drawn plans to potentially expand the front home by building up (plans available upon request).
Whilst there is currently only one off street car park on site, council permits are available.
INSPECTIONS BY APPOINTMENT.
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