Lot S56 Herbert St, Dandenong VIC

Description

This beautifully designed rooming house in the heart of Dandenong offers an exceptional opportunity for investors seeking high-yield assets in a growing urban hub. Set on a generous 664sqm land, this property features 9 fully-equipped bedrooms, each with its own bathroom, as well as spacious communal areas and modern finishes. With a total house area of 299sqm and fixed price full turnkey package, this investment is ready for immediate appeal to tenants.

Suburb profile:

Dandenong is a vibrant and diverse suburb in Melbourne's southeast, known for its cultural richness and excellent connectivity. With access to major train lines, highways, and key employment hubs, Dandenong continues to attract young professionals, students, and new migrants. Its bustling town centre offers a wide range of dining, retail, and community services. The area has seen strong infrastructure investment, making it a key growth corridor in Victoria.

Inclusions:

• Fixed Price - Full Turnkey Co Living Package

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 bench-top builders range
• 900mm Stainless Steel Oven
• 900mm Stainless Steel Rangehood
• Bathroom/Ensuite with Porcelain tiles
• Ceramic slim top white vanity with 20mm stone
• Split system aircon units to all bedrooms

Electrical Inclusions:

• Exhaust fans to bathrooms
• Smoke detectors

External Inclusions:

• Flyscreens on all openable windows
• Coloured concrete to the driveway and the path

Appliance Inclusions:

• 900mm Stainless Steel Oven and Rangehood

Energy Efficiency:

• Chromagen Solar Hot Water System

This rooming house represents a rare and valuable investment opportunity offering strong yield potential, future-proof design, and appeal to a wide tenant demographic.

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.