15 Norman Street, Deagon QLD 4017

$1,160,000

5 beds

5 baths

2 parking

Newly Converted Rooming House/Block of Units.

FULL INFORMATION MEMORANDUM AVAILABLE UPON REQUEST.

Fully Leased offering a $95,421pa Gross Yield on a 405m2 block approx 650m from the local train station.

Introducing a compelling investment prospect in Deagon, this rooming house on a 405m² block is approximately 650m from the local train station, highlighting its appeal due to exceptional accessibility and growth prospects. The transformation from a traditional residence to a multi-occupancy dwelling showcases a strategic move into the profitable rooming house market, catering to the rising demand for quality rental options in the area.

Currently offering a gross rental yield of $95,421 per annum with operating expenses around $27,658, this property presents net yield of $67,763, reflecting a sound investment in a competitive segment. Its location in Deagon, coupled with a thoughtful conversion, positions it well within the rental market, appealing to a diverse tenant base.

The appeal of Deagon as a suburb is subtly enhanced by its connectivity to Brisbane CBD and local amenities, reinforcing the property’s potential for capital growth. The steady demand for rental accommodation in the area suggests a promising outlook for future valuation increases.

This rooming house represents a balanced investment choice, offering steady income potential and growth prospects. The property’s full occupancy reflects its desirability, underpinned by a low-maintenance operational model, making it a practical addition to an investor's portfolio looking for reliable returns and capital appreciation opportunities.

Property Details

• Type: BlockOfUnits
• Bedrooms: 5
• Bathrooms: 5
• Carport Spaces: 2