3 Rens St, Toowoomba City is a 14 bedroom, 2 bathroom House. The property has a land size of 800m2. While the property is not currently for sale or for rent, it was last sold in February 2024. There are other 14 bedroom House sold in Toowoomba City in the last 12 months.
Presenting to the market, this outstanding opportunity to own a freehold refurbished hostel. A recession proof, secure commercial investment in a blue-chip Toowoomba city location. This highly profitable hostel is designed to minimise costs and maximise profits.
On a generous 800m2 allotment, 3 Rens Street is conveniently located just a couple of minutes' walk to the CBD. The building has recently had extensive renovations completed and provides accommodation for 14 residents. The property is comprised of a low-set Besser block building incorporating - 14 single bedrooms, 2 courtyards, 4 bathrooms, 2 toilets, a laundry room, and a communal kitchen complete with all necessities including crockery, cutlery, pots and pans, microwave, kettle, toaster, and plenty of storage. There are also 2 new sheds, one for resident's bicycles, the other for cleaning supplies and there are 12 designated carparks. A neat complex all behind an electric gate, providing excellent security with 24 hour CCTV of carpark and entry. The secure income stream of established tenancies in this central Toowoomba city location makes this investment an attractive opportunity.
- Very high level of occupancy with long term tenants
Outgoings/year
- Insurance approx. 7000.00
- General council rates 3954.48
- Water access fee 700.64
- Water use 1850.00
- Electricity approx. 2000.00
- Internet 900.00
- Cleaning 10,400.00
Total: $26,805.12
There has never been a better time to purchase a business-like a hostel, with the extensive lack of budget residential accommodation, booming Queensland tourism industry and a fast-growing local population. This business is well positioned for future growth, with low operational costs this property is a 'Cash Cow'!
EXTRAS TO NOTE-
Instead of 14 days remedy to breach with 7 days NTL it has legally been altered to 7 days remedy to breach with 2 days NTL to ensure waiting periods without rent will always be at a minimum should there be any issues with rent payment.
CURRENTLY REGISTERED AS QLD BUDGET ACCOMMODATION LEVEL 1 ACCOMMODATION SERVICE (this means no meals and no disability permitted)
Note: Inspections will be held by appointment only. Please contact me for further information - KYLIE NIELSEN | 0439 997 678 | kylie@spp.net.au
The size of Toowoomba City is approximately 2.7 square kilometres. It has 9 parks covering nearly 3.8% of total area. The population of Toowoomba City in 2011 was 2,200 people. By 2016 the population was 2,093 showing a population decline of 4.9% in the area during that time. The predominant age group in Toowoomba City is 20-29 years. Households in Toowoomba City are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Toowoomba City work in a professional occupation. In 2011, 35.7% of the homes in Toowoomba City were owner-occupied compared with 34.4% in 2016.
Toowoomba City has 2,353 properties. Over the last 5 years, Houses in Toowoomba City have seen a 69.70% increase in median value, while Units have seen a 42.39% increase. As at 31 July 2024:
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