Lot 116 Ormond Road, East Geelong VIC

Description

This is a fully turnkey 9-bedroom Rooming House located in Ormond Road, East Geelong VIC 3219. The property offers strong rental income potential and is designed to meet 1B Housing Type Compliance with spacious living, ensuite bedrooms, and modern features across 295m² of build area on a 650m² titled lot.

Suburb profile:

East Geelong is a sought-after residential suburb located close to the Geelong CBD. It offers a blend of character homes and modern developments, with access to quality schools, medical facilities, parks, and shopping amenities. The area continues to attract investors and renters due to its proximity to employment hubs and the waterfront.

Internal Inclusions:

• Hybrid Flooring to Bedrooms and Living
• Tiles to the Wet Areas
• 2700 mm Ceiling Height
• Air Conditioner in All Bedrooms and Living Area
• Keyless Lock - Main Entrance Door and All Bedroom Doors
• Additional Hot Water System for Additional Ensuite

Appliance Inclusions:

• 900 mm Cooktop
• 600 mm Dishwasher

Upgraded Inclusions:

• 2340h x 920w front door in lieu of the standard

Warranties:

• 10-Year Structural Warranty

This 9-bedroom Rooming House in East Geelong offers a high-yield investment opportunity with modern inclusions, air conditioning throughout, and full turnkey delivery on a titled lot.

Single-person households are on the rise, accounting for a significant 25% of all households in Australia. This trend shows no signs of slowing down, and experts project a continued growth in single-person households, reaching an estimated 3 to 3.5 million over the next two decades. This surge underscores the increasing demand for housing options tailored to individual occupants.

Rooming house properties represent a form of shared accommodation, offering private bedrooms with ensuite bathrooms, and often including living and kitchenette facilities akin to a compact, one-bedroom unit or apartment. These properties appeal to tenants seeking affordable, adaptable, and hassle-free living arrangements that align with their lifestyles and requirements.

Many rooming houses are strategically situated in suburban areas, providing proximity to transportation, shopping centers, restaurants, cafes, and community hubs—making them an enticing choice for tenants.

Typical rooming house tenants encompass young professionals, students, digital nomads, entrepreneurs, creatives, and seniors who priorities convenience, connectivity, and collaboration.

For investors, rooming house properties offer a compelling value proposition. They present a high-yield, low-risk, and forward-looking investment opportunity. Rooming house properties consistently maintain higher occupancy rates, lower vacancy rates, and reduced turnover compared to traditional rentals. This aligns with the burgeoning demand for affordable and flexible housing solutions in urban settings.

Additionally, rooming house properties often boast higher capital growth potential, given their prime locations with access to transportation, education, employment, and entertainment hubs.

Why are rooming houses so attractive to investors?

- High Demand, rooms are in high demand, ensuring quick occupancy.

- Higher yields, often double compared to the suburb average.

- Diverse young professionals and older singles generally seek this accommodation category.

- Tax depreciation benefits from fixtures and fittings.

- Income security, with income flow even when one tenant moves out.