16 Holt Street, Stanmore NSW 2048

Heritage Victorian boarding house | 18 studios | 531m² land | Stable yield near universities | No immediate capex needed The property presents a rare combination of heritage character and proven income generation, with 18 studio-style rooms producing a steady annual rental return on a 531m² landholding in inner-west Sydney. Its location near universities ensures consistent demand from student and professional tenants, while the preserved exterior adds differentiation in a market where character stock is increasingly scarce. For an investor seeking a turnkey, low-management income stream with long-term land value upside, this house offers a compelling entry point without requiring immediate capital expenditure. The primary risk lies in the heritage listing, which may constrain future redevelopment or significant alterations, limiting the property’s upside to operational improvements rather than structural transformation. Additionally, the classification as a boarding house or block of flats introduces regulatory complexity, and any change of use would require council approval. However, the stable occupancy and established rental profile mitigate downside, and the opportunity exists to incrementally lift income through selective room upgrades or professional management. For a buyer comfortable with a hold strategy, this unit represents a defensive, income-focused addition to a portfolio.