320 David StreetSouth Albury NSW 2640
Property Details for 320 David St, South Albury
320 David St, South Albury is a 1 bedroom, 1 bathroom Unit and was built in 1950. The property has a land size of 885m2 and floor size of 317m2. While the property is not currently for sale or for rent, it was last sold in July 2020.
Last Listing description (November 2024)
Discover this exceptional investment opportunity in the thriving South Albury real estate scene with this recently renovated, meticulously maintained boarding house. This property offers a robust rental yield, secure long-term lease options, and a prime location near the city's bustling CBD and a serene, picturesque lagoon.
Key Property Features:
* Fully renovated, council-approved boarding house, licensed for up to 12 long-term tenants
* 12 individually metered rooms, each with separate air conditioning units
* A secure property with CCTV monitoring and a swipe card system for added peace of mind
* Weekly cleaning contracts in place, ensuring a well-maintained property
* High rental demand with an extremely low vacancy rate just 0.6%!
* Recent fire safety upgrades to ensure compliance and tenant safety
* The property features a solar panel system, helping to reduce electricity costs
* Freshly painted rooms, offering a modern, up-to-date feel
* Brand new, updated furniture and appliances added to all rooms
* Gross Rental Income: $148,720 p.a. (fully leased)
* Further benefits include NSW land tax exemptions
The property's 12 rooms include 11 fully furnished rooms and a separate room for a Deluxe Studio. With a history of long-term tenants, a low vacancy rate, and an impressive rental yield of $220-$250 per week (with the Deluxe Studio rented at $350 per week), this is an effortless investment that will add significant value to any portfolio.
Please contact Ian Ritchie to inspect the property:
Ian Ritchie
E: ian@ianritchie.com.au
M: 0408 698 670
Inspect: Saturday 11:00am - 12:00pm
Property History for 320 David St, South Albury, NSW 2640
- 07 Sep 2024Listed for Sale $1,250,000 - $1,350,000
- 22 Jul 2024Listed for Rent $360 / week
- 03 May 2024Listed for Rent $350 / week
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0About South Albury 2640
The size of South Albury is approximately 4.3 square kilometres. It has 14 parks covering nearly 7.5% of total area. The population of South Albury in 2011 was 1,368 people. By 2016 the population was 1,399 showing a population growth of 2.3% in the area during that time. The predominant age group in South Albury is 20-29 years. Households in South Albury are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in South Albury work in a professional occupation. In 2011, 42.5% of the homes in South Albury were owner-occupied compared with 40.1% in 2016.
South Albury has 1,233 properties. Over the last 5 years, Houses in South Albury have seen a 80.89% increase in median value, while Units have seen a 61.28% increase. As at 31 October 2024:
- The median value for Houses in South Albury is $677,023 while the median value for Units is $324,652.
- Houses have a median rent of $430 while Units have a median rent of $320.
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