For the perceptive investor with an eye for a solid asset generating an immediate return, this nine bedroom share accommodation facility is a unique opportunity.
Shared accommodation offers exceptional revenue compared to more traditional property investments, producing multiple income streams as well as guaranteed high occupancy rates.
With increased demand for affordable, secure and convenient accommodation, this form of housing attracts a diverse range of tenants from students, single income and professionals.
The property has a practical layout with 9 bedrooms, including one which is disability enabled with its own ensuite bathroom, two additional bathrooms, two toilets, shared kitchen, meals and living area plus a separate laundry.
A paved terrace and covered patio along the side provides a private outdoor space and the rear yard is securely fenced and neatly maintained.
Additional improvements include a high clearance double carport, lockup double garage and a garden shed.
Each bedroom has secure, independent entry, a robe and is furnished with a bunk bed, desk, TV, bar fridge and pantry
The kitchen features timber cabinetry, laminate counter tops, 900mm stainless steel cooker and a microwave.
Ducted gas heating, evaporative cooling, an upright freezer and washing machine in the laundry, dining setting, couches and security cameras linked to a mobile app are further inclusions.
Situated in a tree lined, no-through street, surrounded by parkland, a children's playground and within a short walk of the local bus stop, which services Berwick, the train station and Pakenham, the quiet location is also a highlight.
Currently the property grosses approximately $2,900 per week which would equate to circa 8 percent return on investment.
Although the property is currently utilised for shared accommodation, the large allotment and blue chip Old Berwick location would also be an attractive redevelopment option (STCA).
As a high performing asset with strong rental returns, low vacancy risks and long term security, this is a golden opportunity.
For additional information contact the marketing agent Ron Malhotra on 0407 368 018.
