Lot 64 Harmony, Mildura VIC (9 beds)

Description

This impressive rooming house investment opportunity is located in the thriving regional hub of Mildura. Priced at $1,108,200, this 9-bedroom turnkey property is fully titled and ready to deliver exceptional rental income, with estimates up to $3,000 per week. With 9 bathrooms, hybrid flooring, high ceilings, and full turnkey inclusions, it offers both functionality and modern appeal. The property has been designed to meet Class 1B requirements, ensuring compliance and maximising rental potential.

Suburb profile:

Mildura is a growing regional city in northwestern Victoria, known for its strong agricultural industry and lifestyle appeal. As a major service centre for the Sunraysia region, Mildura boasts a vibrant economy, excellent healthcare facilities, and expanding infrastructure. The city is increasingly popular among tenants and investors due to its affordability, stable rental demand, and relaxed regional charm. Located near the Murray River, Mildura also offers attractive recreational and lifestyle amenities.

Internal Inclusions:

• Hybrid flooring to bedrooms and living areas
• Tiles to wet areas
• Air conditioner in all bedrooms and living area
• Keyless locks to all bedroom doors and main entry
• 2340h x 920w upgraded front door
• 2700mm ceiling height

Appliance Inclusions:

• 900mm cooktop
• 600mm dishwasher

Energy Efficiency:

• Additional hot water system for extra ensuite

Warranties:

• 10-year structural warranty

This high-yield rooming house investment is fully turnkey and located in a strong regional growth area—making it an ideal opportunity for investors seeking both cashflow and capital growth.

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.