14 room California, Darlinghurst boarding house passed in at $3.975 million
California, a 14 room boarding house fronting the busy Flinders Street in Darlinghurst, was passed in at auction last night at $3,975,000.
Refurbished since it last traded for $1,845,000 in 2010, 60 Flinders Street (pictured below) on 190 sqm has three levels at the front and two at the rear.
Currently it yields around $323,000 gross annual revenue.
It sits near Taylor Square, Oxford Street, Surry Hills and Moore Park, with two street frontages to Flinders and Chisholm Streets.
The 14 rooms are currently made up of nine double studios, eight fully self-contained with their own ensuites, and five single units all with kitchenettes. They share three bathrooms.
There's an undercover communal courtyard with custom timber seating and barbecue facilities and an on-site coin-operated laundry.
It is being sold as a going concern, with all furnishings and inventory included in the sale.
Dominic D'Ettorre at D'ettorre Real Estate was marketing the property in conjunction with McGees Property agent John Grujovski.
They suggest its a fusion of modern design and classic features.
The vendor of California has listed the Paddington boarding house Belle Vue (pictured above) which was passed in at $5.15 million when offered at Cooley Auctions.
