Lot 64 Harmony Drive, Mildura VIC (6 beds)

Description

This premium rooming house property in the Oakmont Grove Estate of Mildura offers a high-yield investment opportunity with 6 bedrooms, each with ensuite, plus turnkey inclusions and a fully staged furniture pack. With a generous 636m² land area and 240m² build size, the property is ideal for shared accommodation. Investors can expect strong rental returns in a region known for affordability, regional migration growth, and consistent tenant demand.

Suburb profile:

Mildura is a thriving regional hub in Victoria’s north-west, known for its strong agricultural base, including citrus, wine, and almonds. The local economy benefits from tourism and infrastructure development. With affordability and capital growth potential, Mildura appeals to investors and tenants alike. The area’s appeal is further strengthened by a growing population, increased demand for rentals, and presence of institutions like La Trobe University and SuniTAFE.

Inclusions:

• 6B Furniture Pack included
• 2700 mm ceiling height
• Air conditioning to all bedrooms and living area
• Keyless entry to front door and bedrooms
• Hybrid flooring to bedrooms and living; tiles to wet areas
• 10-year structural warranty
• 900mm cooktop and 600mm dishwasher
• 2340h x 920w upgraded front door

Site Inclusions - Site Works, Foundations & Connections:

• Fixed site costs up to 500mm fall and P class waffle slab
• Connection to recycled water system
• NBN connection
• Earthworks, stormwater risers, and sewer point connections
• Max. 30 concrete bored piers
• Rock excavation allowance up to 15m³

Preliminary Inclusions:

• Full working drawings and engineering
• Energy and compliance reports

Internal Inclusions:

• Hybrid laminate timber-look flooring
• Bedrooms fitted with built-in robes
• 2340mm doors and upgraded door widths

External Inclusions:

• Remote controlled sectional garage door
• Letterbox included

Landscaping Inclusions:

• Front and rear low-maintenance landscaping
• Timber paling boundary fencing with wing gate

Electrical Inclusions:

• Three-phase power upgrade

Appliance Inclusions:

• 900mm U-Studio cooktop
• 600mm U-Studio dishwasher
• Bar fridge and microwave provision in bedrooms

Upgraded Inclusions:

• Handicap ensuite to Bedroom 1 with shower grab rails, accessible fittings
• Garage fittings for accessibility
• Additional Rinnai hot water system

Furniture Pack Inclusions:

• Queen beds and mattresses
• TV unit, couches, coffee table, artwork
• Microwave, bar fridge, cookware, cutlery, plates
• Dining set and stools
• Laundry appliances: washer, dryer, iron, mop

Warranties:

• 10-year structural warranty included

This premium rooming house property is a fully turnkey, high-yield investment opportunity in a growing regional hub, with all furnishings, compliance, and inclusions provided—perfect for investors seeking strong returns.

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 prioritize 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 Tenant Base: Young professionals and older singles generally seek this accommodation category.
• Tax Depreciation: Benefits from fixtures and fittings.
• Income Security: Steady income flow even when one tenant moves out.