Bondi Junction boarding house sales achieve record results
Two private local investors have snapped up separate boarding houses in Bondi Junction for $2.25 million each, reinforcing the view that Sydney’s eastern suburbs are one of the city’s most sought-after investment areas for boarding houses.
Both 2B Ben Eden Street and 89 Old South Head Road were offered to the market separately or in one line.
The sales represent yields of 4.2% for Ben Eden Street and 4.6% for Old South Head Road.
The selling agents were Tony Braham and Simon Lytton of CBRE’s Metropolitan Investment Properties team.
The 242 square metre site at 2B Ben Eden Street offers six self-contained modern studio apartments, each with its own bathroom and kitchenette, whilst the 272 square metre Victorian terrace at 89 Old South Head Road offers11 rooms over two levels.
The sites benefit from R3 Medium Density Residential zoning, providing future development potential.
