Sunny and warm (quality carpets and drapes)
Close to Mornington shopping centre/situated on bus stop
Main house (stately home registered with Historic Trust) built 1870s and still in original condition
Adjoining wing built 1940s
Accommodation for 40 people
1,500 square metres land planted in mature trees creating a private attractive environment
Hawthorn hedge on street boundaries
Off-street parking
4 bathrooms, 6 toilets, large communal kitchen and separate laundry
Fire sprinkler system constantly monitored by Fire Service
Each room has: furniture, fridge, heater, toaster and electric jug
Ten television sets are available for hire @ $5 per week
We have owned the house for over 11 years and the room occupancy averages from 18-23
During this period, income has been consistent at approximately $85,000 - $110,000 pa
Approximate annual expenses:
DCC rates
Electricity
Telephone
Equipment Maintenance & building WOF
Monitoring fire sprinkler system
Cleaning supplies, toilet paper, etc
Insurance
GST on 60% of net rent say 50,000
Allow $3,000 for maintenance
2,600
10,000
1,200
1,100
1,000
1,100
1,400
19,400
3,750
3,000
GV is:
Improvements
Land
Capital value
256,000
144,000
400,000
Contact Alex Armstrong
Phone: +64 3 4730809 or +64 25 323089
email: [email protected]