This brand new fully furnished purpose built, five suite, class 1B rooming house, is situated on a 506m2 block of land with Low Density Residential zoning with an appraised rental return of $111,800 at a 7.8% 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 3 phase solar system
* Blinds to all windows
* The entire house is fully landscaped and fully furnished with quality furnishings.
* The property also offers great depreciation benefits.
Perfectly located with easy access to:
* Monier Village - Woolworths and other speciality shops (2.2km)
* Darra Train Station (1.0km)
* Ducie Street Park (130m)
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 is 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.
