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Overview
Superbly situated directly behind Karingal Hub, this unique investment opportunity offers exceptional potential for income and growth. Located close to a variety of shops, restaurants, cinemas, public transport, Ballam Park, and essential services, the property presents a rare find for astute investors seeking multi-stream rental income and room for further value enhancement.
This registered rooming house meets Frankston City Council standards and maintains nearly full occupancy, generating a gross rental return of $95,000 per annum. Spread over two expansive levels, the residence includes nine bedrooms, making it suitable for a variety of tenants and providing a secure, high-yield investment for discerning buyers.
The open-plan kitchen and meals area is equipped with a gas stove and ample cabinetry, opening via glass doors onto a spacious alfresco and generous garden patio, ideal for relaxation or entertaining. The large master bedroom features dual built-in robes, an ensuite bathroom, a private retreat, and external access, creating a private wing for homeowners or on-site managers.
Additional bathrooms are conveniently located on both levels to service the sizeable accommodation. The property has undergone renovations in recent years, ensuring it is immediately rentable and well-maintained. Its proximity to educational institutions such as McClelland College and Ballam Park Primary School, along with nearby recreational and sporting facilities, adds appeal for tenants and future occupants.
Overall, this expansive property offers an excellent opportunity to own a well-located, income-producing rooming house with strong occupancy rates and significant potential for further growth and value enhancement within the thriving area of Frankston.
Local Market Insights
In Frankston, Quiet Listings observed 80 new houses entering the market over the last 30 days, up from 50 during the previous 30-day period, with an average advertised asking price of $1,105,663. The property type mix of listed properties is predominantly Houses at 64%, followed by units (18%), and townhouses (6%). OBrien Real Estate was the most active agency in this area, representing 38.5% of all new listings in the last 30 days. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Frankston VIC 3199
Measurements
| Type | Dimensions |
|---|---|
| Floor Area | 200 m² |
Market Insights for Frankston VIC 3199
Other properties in this postcode
* Search brackets are a technical classification derived from unverified metadata set by the listing agent for search filtering. It is not an official price guide, a valuation, or a representation of the seller's reserve. This data is provided for search transparency purposes only.
