High-Potential Investment Property – Hotel / Residential Conversion Opportunity

This building has exceptional potential. In addition to its current use as a hotel, it can be easily converted into residential apartments with relatively low renovation costs.

The property consists of 7 floors, with one independent apartment of approximately 100 sq.m. on each floor, creating the possibility of 7 fully isolated residential apartments.

Currently, the building operates as student accommodation with 14 rooms, providing 29 beds, plus an additional 8 beds in a two-story annex, for a total capacity of 37 beds. With minor improvements, the capacity can be increased by approximately 4 additional beds, allowing up to 40 students to live in the building simultaneously.

The property therefore offers two attractive investment strategies:
Continue operating as a student hotel / accommodation business with existing income potential.
Convert the building into 7 premium residential apartments, each around 100 sq.m.
The current market price in this area is approximately $1,700–$1,800 per sq.m.
After conversion, the total residential value of the property could exceed $1.2 million, creating a strong value-added investment opportunity.
The conversion process is technically simple and the estimated renovation cost is approximately $120,000–$140,000.
This property represents an excellent opportunity for investors looking for a flexible asset with both commercial income potential and long-term residential value growth.