2 Camellia Avenue, Noble Park North, Vic 3174 - More Details
$1,700,000 - $1,870,000
A genuinely rare opportunity for investors looking for scale, immediate income and an established rooming house operation in a tightly held Noble Park North location.
Set on approximately 671m2, 2 Camellia Avenue is a fully tenanted, purpose-configured rooming house offering an impressive 9 bedrooms, 7 bathrooms and 8 toilets, with a central kitchen and excellent communal and outdoor areas.
The property is currently returning approximately $193,000 per annum in gross rental income - equivalent to around $3,712 per week - providing an established income stream from day one. At the marketing range of $1,700,000-$1,870,000, this equates to an approximate gross rental yield of 10.3%-11.4% per annum based on the current gross rent.
EXTENDED AND IMPROVED FOR ROOMING HOUSE ACCOMMODATION
Originally a four-bedroom residence, the property has been substantially expanded with five additional bedrooms that have only recently been completed. Each of the five new bedrooms includes its own private bathroom and toilet, creating a highly practical accommodation model designed around privacy and independent living.
The balance of the home provides the original bedroom accommodation, shared bathroom facilities, a central kitchen, laundry, accessible-style bathroom/WC facilities, study areas and multiple circulation zones. The floorplan has been configured to support the day-to-day operation of a genuine rooming house rather than simply a large family home.
FULLY TENANTED - INCOME ALREADY IN PLACE
For investors, one of the biggest advantages is that the hard work has already been done. The property is fully tenanted at present, with the current rental schedule producing approximately $193,000 per annum. There is no need to purchase vacant, complete works and then begin the process of filling nine rooms - the income is already established.
ROOMING HOUSE PERMITS AND APPROVALS
The property is being sold as proper rooming house accommodation, with the relevant permits and approvals in place as advised by the vendor. Documentation can be made available to genuine purchasers for review as part of their due diligence.
SPACE INSIDE AND OUT
Outside, the approximately 671m2 allotment provides extensive covered areas, ramp access, lawn, a long driveway and multiple off-street parking spaces. The covered pergola and outdoor zones add valuable communal space for occupants while keeping the property practical and relatively low maintenance.
CONVENIENT NOBLE PARK NORTH LOCATION
Positioned close to major employment, education, shopping and transport precincts, the property enjoys easy access to Noble Park and Dandenong, nearby schools, public transport, medical facilities and major road connections. This accessibility is an important benefit for rooming house occupants and supports the long-term appeal of the accommodation.
PROPERTY HIGHLIGHTS
• 9 bedrooms in total
• 7 bathrooms and 8 toilets
• Five newly completed bedrooms, each with its own private bathroom and toilet
• Central kitchen plus shared living / dining facilities
• Fully tenanted at present
• Approx. $193,000 per annum gross rental income - approx. 10.3%-11.4% gross yield at the $1.70m-$1.87m marketing range
• Relevant rooming house permits and approvals in place, as advised by the vendor
• Approx. 671m2 allotment
• Covered outdoor / communal areas and ramp access
• Multiple off-street parking spaces
• Established accommodation investment with immediate income
This is not a property that needs to be converted into an income-producing accommodation asset - it is already operating, fully tenanted and generating a substantial annual return.
For investors seeking a high-income residential accommodation asset with scale, established occupancy and recent capital improvements, 2 Camellia Avenue deserves serious consideration.
Gross rental yield figures are based on the current stated gross rental income of approximately $193,000 p.a. against the advertised price range and are before expenses, outgoings, vacancy and other ownership costs.
Photo I.D. required at all inspections.
DISCLAIMER: The measurements provided of the land and / or property may not be 100% accurate. In order to satisfy yourself of the exact dimensions of the property / land / or of each room, we advise you to conduct your own measurements and / or engage the services of a licensed surveyor. Responsibility for any omissions or errors contained herein is expressly denied.
- Type
- House
- Bedrooms
- 9
- Bathrooms
- 7
- Area
- 671 m²
