Currently operating as a classic boarding house, this 16 bedroom home in eastern Sydney just hit the market with plenty of opportunities for buyers to make it their own.
Sitting right between the Sydney suburbs of Clovelly and Randwick, the boarding house boasts a whopping 16 bedrooms, 4 bathrooms and a massive backyard.
Selling agents NGFarah’s Martin Farah and First Hand Property’s Mitchell Farah said the property is perfect for investment or converting into a family home.
And if the house continues to operate at full capacity as a boarding house, the new owner could potentially fetch a cool $286,264 in annual revenue.
Situated in Sydney’s eastern suburbs, the home is described as a “rare opportunity with endless potential”.
"This unique offering has been held and operated by the same family for over 40 years and is perfectly positioned in the heart of Sydney's Eastern Suburbs," Martin Farah said.
Mitchell added: "This character residence has great versatility. It can continue to generate income as a boutique Manor accommodation or provide the foundations for an elegant family home."
“The home's charming character features combined with a contemporary upgrade could create something completely unique.”
Sitting on a massive 538.6 square meters of land, the block certainly has the space available for development opportunities.
It also has a large front yard, sitting over 13 metres back from the street and a new extension wing at the back where previous upgrades were made.
Close to Sydney’s many beaches, a local shopping centre and public transport, the location will be convenient for families, renters or boarders alike.
The 16 bedrooms aren't anything to scoff at either, each of which are generously sized with enough room for a double bed and additional furniture.
As an added bonus, all bedrooms are furnished and are included in the sale.
The property is open for viewing today and is set for auction on Saturday, May 25 at 6pm.