Lot S3 Gull Street, Norlane VIC

Description

This modern rooming house property in Norlane presents a high-yield investment opportunity in a growing regional market. Featuring 8 bedrooms with individual air conditioning, porcelain-tiled bathrooms, and quality stone benchtops throughout, the home is built with comfort and durability in mind. Its full turnkey offering ensures investors receive a ready-to-rent asset with minimal ongoing expenses. Located in a titled lot within the Geelong region, it’s an ideal set-and-forget strategy for savvy investors.

Suburb profile:

Norlane is a northern suburb of Geelong experiencing revitalisation and strong investment activity. With excellent connectivity via public transport and proximity to shopping centres, schools, and employment hubs, Norlane is increasingly sought after by renters. The suburb benefits from affordable housing options and is only a short drive to Geelong CBD and the waterfront. Its strategic location and ongoing infrastructure improvements make it attractive for both tenants and investors.

Inclusions:

• Fixed Price - Full Turnkey Co Living Package

Site Inclusions - Site Works, Foundations & Connections:

• Fixed site costs
• Stormwater connected to Council's legal point of discharge
• Fixed site cost up to H2 slab
• Colour concrete to driveway and path

Internal Inclusions:

• Cabinets with silk finish laminate doors
• 20mm stone benchtop (builder’s range)
• Bathroom/ensuite with porcelain tiles
• Ceramic slim top white vanity with 20mm stone
• Split system air-conditioning units to all bedrooms
• Exhaust fans to bathrooms
• Smoke detectors
• Flyscreens on all openable windows

Appliance Inclusions:

• 900mm stainless steel oven
• 900mm stainless steel rangehood

Energy Efficiency:

• Chromagen solar hot water system

This rooming house property represents an outstanding investment opportunity, offering a high rental yield and growing demand from single-occupant households in a well-connected regional hub.

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.