It earned up to $338,000 a year in rental income – but this luxury investment property stands to make the vendor more than $2m a year in profit if it sells for its current price guide.
The six-bedroom house in Vaucluse has been offered for sale through Sydney Sotheby’s International Realty with a price guide of about $16m – more than double its value when it was purchased four years ago.
But it is not your standard Sydney rental.
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84 Hopetoun Ave, Vaucluse is for sale.
Tenants living at 84 Hopetoun Ave enjoy floor to ceiling views over Parsley Bay while making use of a wine room with a tasting table, a home gym and an entertainment deck with a pool and a spa.
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Records show the property was last rented for $6,500 a week, equating to just over $28,000 a month and about $338,000 a year – more than three times the average Australian full time income.
Tenants would need to earn well over $1m a year in order to comfortably afford this level of rent, based on the standard income metric used by real estate agents.
It has been listed with $16m hopes.
Buyers are attracted to its prime position near Parsley Bay.
The views are incredible.
The house last sold in 2018 for $7.7m, meaning the owner stands to make more than $8m in profit over four years if it sells in line with the price guide.
Selling agent Michael Pallier said the home’s stylish design and north-facing aspect were appealing to buyers – as was its sought after position.
“The location is beautiful – it adjoins Parsley Bay Reserve,” he said.
“It’s mid-century architecture, but built 12 years ago.”
No expense was spared on its design.
The living room is fit for a millionaire renter.
No clumsy old cooktops in this Sydney rental.
The house spans three levels, with the main living space on the top storey. This has a sandstone feature wall and a double sided gas fireplace. It also opens to a wraparound deck overlooking the bay.
The nearby kitchen has a seven burner gas cooker, dual Liebherr fridges and an espresso machine.
What luxury rental would be complete without a pool and a spa?
Plenty of space in the main bedroom.
Just look at the ensuite!
On the ground floor, the main bedroom opens to a second balcony and has a dressing room and a lavish ensuite.
The lower ground floor is where you will find the gym and the wine room.
The house also has a C-Bus smart home automation system and a security system as well as a second loungeroom with a wet bar.
Always handy to have a gym.
After your workout you can make use of the wine room.
The house has not been renovated since it was purchased in 2018.
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