Property Details: • Type: Block of Units
• Bedrooms: 5 • Bathrooms: 5
Description: This fully furnished, five suite, single-storey rooming accommodation house is situated on a 665m2 LMR3 block with a yearly rental return of $107,380 at a 7.5% gross rental yield. Each room is fitted with an individual split system A/C and comes complete with bedroom, ensuite and living space with kitchenette. The common area includes a full kitchen with oven, cooktop and rangehood and laundry facilities with 2 x washing machines. The premium inclusions for this property are: 15kW solar system Kitchens well equipped with high quality cooking equipment Blinds and security screens on all walls and windows Solid core internal doors & sound insulation on internal walls for additional soundproofing Perfect location for long term growth and tenant desirability: Multiple bus stops within a few minute walk Moorooka Train Station just a 10-minute walk away (700m) Vale St. Shopping Centre, home to Woolworths and a variety of shops, just a 3-minute drive away (1.7km) What is a Rooming House and why Brisbane? Rooming Houses are a relatively new, but increasingly popular concept in Brisbane. Around 3% of the rental market in Brisbane are Rooming Houses. They can be found across many Brisbane suburbs and usually contain 5 micro apartments that can be leased out individually (single occupants only), generally on either 6 or 12 month leases. The houses are generally custom built with each of the 5 suites containing its own living area, kitchenette, bathroom and bedroom. The suites are typically fully furnished and include all services (electricity, internet and water usage) in the rent. Typically, young professional or older separated people are the main occupants. A number of rooming houses have been constructed over the last 5 years and their popularity is a result of their high yielding, low risk offering. Most rooming houses generate significantly more income than their outgoings resulting in around $20k - $35k of positive cash flow. Finished Rooming Houses rarely hit the market, due to the shortage of affordable land in Brisbane, coupled with the fact that most investors retain them for the positive cash flow they generate.
