49 Vanbrook Street, Forest Hill, Vic 3131

Inspection by Appointment

E.O.I. by closing date on 05 July 2024 @ 5:00pm

This substantial property, currently operating as a rooming house, is a prime chance for savvy investors to tap into Forest Hill's thriving rental market. The house boasts 12 well-appointed bedrooms, 6 of which have ensuites. Approved for 16 tenants, there is ample space to expand up to 16 bedrooms(STCA). Designed with comfort and convenience in mind, the house features multiple living areas, two fully-equipped kitchens, a separate laundry room, ducted heating and cooling, and comprehensive security systems. The outdoor area includes a private, paved BBQ space, perfect for entertaining.

The rental income potential is substantial, with ensuite bedrooms expected to generate $260-$285 per week and standard bedrooms expected to generate $200-$220 per week. The projected annual income is approximately $147,000, offering a potential yield could exceed 6% if fully tenanted, making this property a lucrative investment.

Situated in a quiet, family-friendly neighborhood, this property is extremely close to the Forest Hill Shopping Centre, offering unparalleled convenience for residents. It is also near top-rated schools, lush parks, and excellent public transport options. Forest Hill is renowned for its vibrant community and high quality of life, making it an ideal location for rental properties.

The Forest Hill rental market is robust, ensuring consistent demand for properties like this. With approval for 16 tenants, there is significant potential to increase rental income through expansion (STCA). The property's solid returns, with a potential annual yield of over 5%, and exceeding 6% with full occupancy, promise attractive returns for investors.

Don’t miss out on this exceptional property that combines immediate rental income with significant future growth potential. Contact us today to arrange a private inspection and secure your investment in one of Forest Hill’s most promising opportunities.