Redfern boarding house icon Graceland listed

Graceland, the Cleveland Street boarding house in Redfern, has been listed for sale for the first time in over two decades.

Formerly known as Meath House and Illoura, the property at 461 Cleveland Street last traded for $725,000 in 1996.

The grand three storey terrace is the tallest on the long street.

It was built in the mid 1800s and was called home by Patrick Stanley, the four time mayor of Redfern.

The bright blue 485 sqm building is now a fully licenced 10 room, 20 person boarding house.

Fashion designer Melanie Greensmith also once called Gracelands home.

She said it was full of musicians and artists, including singer-songwriter Tex Perkins. 

There's a two storey cottage on the rear of the 455 sqm land parcel which is currently leased at $750 a week until July 2019.

The boarding house is being offered as a going concern by TGC agent Scot Robertson, who has a November 17 auction.

Operated as fully-licensed budget accommodation, the house currently returns about $190,000 a year gross.