Otago Real Estate for Sale

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31 Cranston Street

Otago
19
4
N/A
N/Asqm
N/Asqm
31 Cranston Street Otago
proudly marketed by
Colliers
High Cashflow Boarding House
This significant and very tidy property operates 17 bedrooms for the main part of the boarding house and a separate self-contained 2-bedroom flat upstairs offers additional rental income or could potentially be used as a manager's residence. The former rest home has been transformed into a highly functional boarding house with comfortable rooms, wide hallways, a large living area with abundant sunshine and plentiful off-street parking. The Andersons Bay suburb is a quiet area, with the surrounding neighbours mainly owner-occupied properties. Three wet floor bathrooms and two separate toilets from the rest home era are functional facilities for the 17 downstairs bedrooms. Three bedrooms have their own ensuite toilets and another six contain their own bathroom vanities within the room. The upstairs flat utilises its own large kitchen, open living area and full modern bathroom to offer a true self contained flat, with the option of internal access to the boarding house if desired. External access is otherwise to the rear via a private deck. At full occupancy, the property delivers approximately $3,250 per week. As per the nature of boarding houses, a vacancy level should be included for annual income estimates and utilities are provided by the landlord. Enquire for a full Colliers Information Memorandum including rental schedule, utility costs, floorplan, 3D Virtual Tour and any warranted property disclosure. Viewings are by appointment only. Other investment options at colliersotago.co.nz
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Upload by Ewen Livingstone
Otago and Southland
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