1 Hillcrest Avenue, Brighton VIC 3186

This investment property presents a rare opportunity to acquire a well-established asset situated on a substantial 623 square meter land parcel. It offers a reliable income stream combined with potential capital growth and benefits from a land tax exemption under vendor terms.

Constructed in 1938, the property comprises two brick buildings that have been thoughtfully converted into nine individual rooms, each with its own ensuite. The property currently generates a gross income of $174,157, delivering a revenue yield of up to 5.51%, or 4.51% per annum after outgoings.

Classified as a Class 1B Rooming House, the property is fully furnished and equipped with appliances, with only a few items excluded. It holds all necessary council approvals and is officially registered for its current use.

Each room benefits from access to a central kitchen featuring dual cooking facilities, a laundry area equipped with four washing machines and a dryer, a dining room, and a courtyard. The rooms are individually metered, and the property is enhanced by a 13.5 kW solar panel system, a heat pump, and three-phase power supply.

Located in a quiet street, the property is conveniently positioned just steps away from Bay Street’s vibrant shopping precinct, railway station, supermarket, theatre, and the nearby beach. This location offers the lifestyle advantages of city-style living within the prestigious Brighton area, with every amenity readily accessible.

The co-living concept embraced by this property is increasingly preferred, providing tenants with privacy within their own living spaces while fostering a sense of community. This arrangement is distinct from traditional rooming houses or shared accommodations, offering a balanced lifestyle where personal space and social interaction coexist.

Brighton Beach enjoys a strong reputation, reflected in a high tenant satisfaction rating of 4.8 on Google as of December 21, 2025.

This property represents a unique investment opportunity with attractive returns and exceptional ownership benefits, making it a compelling addition to any portfolio.