Lot S42 Swallow Crescent, Norlane VIC

Description

This stunning rooming house property in Norlane VIC offers an exceptional investment opportunity with 8 spacious bedrooms, each featuring its own bathroom, ensuring privacy and comfort for tenants. The property is fully turnkey with fixed site costs and high-quality finishes throughout. Positioned in a convenient location, this investment promises both high rental yield and long-term capital growth.

Suburb profile:

Norlane is a rapidly evolving suburb in the Geelong region, known for its affordability and excellent connectivity to key amenities. It is just minutes from Geelong CBD and well-connected via major roads and public transport, making it a desirable location for commuters and residents alike. The area features numerous parks, schools, and shopping precincts, contributing to a well-rounded suburban lifestyle. Norlane is increasingly popular with investors due to its rental demand and infrastructure growth.

Inclusions:

• Fixed price full turnkey package
• Porcelain tiles in bathrooms/ensuites
• Ceramic slim top white vanity with 20mm stone
• Split system air conditioning units to all bedrooms
• Smoke detectors
• Flyscreens on all openable windows

Site Inclusions - Site Works, Foundations & Connections:

• Fixed site costs
• Storm-water connected to Council’s legal point of discharge
• Fixed site cost up to H2 slab

Internal Inclusions:

• Cabinets with silk finish laminate doors
• 20mm stone benchtop (builder's range)

Electrical Inclusions:

• Exhaust fans to bathrooms

Appliance Inclusions:

• 900mm stainless steel oven
• 900mm stainless steel rangehood
• Chromagen solar hot water system

External Inclusions:

• Coloured concrete to the driveway and path

Energy Efficiency:

• Chromagen solar hot water system

This rooming house property is a standout investment opportunity, delivering strong yields, quality inclusions, and a strategic location within the Geelong region.

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.