3 Madeira Street, Manor Lakes presents an exciting opportunity for investors seeking a property with rooming house potential and multiple income streams.
Ideally positioned in a growing residential community, the property offers the potential to provide comfortable accommodation while maximising rental returns through individual room leasing.
The configuration is well suited to the growing demand for affordable, convenient and well-located accommodation.
Rooming House Potential
The property offers the potential to accommodate multiple residents, subject to the relevant planning, building, registration and rooming-house requirements.
Leasing rooms individually may provide an opportunity to generate a higher gross rental return than a conventional whole-property lease, depending on the final approved configuration and achievable room rents.
Shared living, kitchen, bathroom and outdoor areas can provide residents with practical communal facilities while allowing individual occupants to maintain their own private space.
Rental Income Potential
A room-by-room rental strategy can create multiple sources of rental income, reducing reliance on a single tenant.
Potential rental income will depend on the number of approved rooms, room sizes, inclusions, furnishings, utilities, local demand and the final operating model.
Investors should obtain an independent rental appraisal and confirm all applicable rooming-house requirements before relying on projected returns.
Location & Lifestyle
Located in Manor Lakes, the property benefits from a growing residential environment with access to shopping, schools, parks, public transport and major road connections.
The surrounding area offers convenient access to Werribee and Melbourne's western suburbs, supporting demand from workers, students and other residents seeking accessible accommodation.
Why Consider This Opportunity?
Potential for multiple rental income streams
Attractive alternative to a traditional single-tenant rental
Positioned within an established and growing residential community
Potential appeal to investors seeking stronger gross rental returns
Flexible accommodation strategy, subject to approvals and compliance
The Opportunity
3 Madeira Street, Manor Lakes offers investors the potential to create an attractive rooming-house income model in a highly sought-after western Melbourne location.
With the right approvals, management strategy and rental structure, the property has the potential to deliver stronger gross rental income than a conventional residential lease.
DISCLAIMER: All stated dimensions are approximate and pictures are for illustration purposes only. Particulars given are for general information only and do not constitute any representation on the part of the vendor or agent.
Please see the below link for an up-to-date copy of the Due Diligence Checklist:
http://www.consumer.vic.gov.au/duediligencechecklist
An opportunity for investors looking to unlock the property's income potential - inspection is highly recommended.
