Images and floorplans are provided for illustrative purposes and remain the property of their respective copyright owners.
Overview
This investment property at 32 Holly Street, Preston, presents a unique opportunity for investors seeking immediate and stable rental income in a tightly held, highly sought-after suburb. The established rooming house configuration delivers an attractive approximate 7% rental yield, reflecting its strong cash flow from day one and the high demand for rental accommodation in the area.
Boasting eight individually leased rooms, the property generates diversified income streams that help to mitigate vacancy risk, making it a resilient asset in an active rental market. The well-maintained accommodation offers shared kitchen, bathroom, and communal living spaces designed to promote comfortable and practical everyday living across multiple tenants.
The property's efficient and functional layout, with generous common areas, appeals to a broad demographic of tenants, enhancing its ongoing appeal and ensuring consistent occupancy. Situated on a north-facing allotment, it benefits from ample natural light, which complements its long-term desirability and potential for future enhancements.
Additional features such as a solar panel system contribute to lower running costs and environmental efficiency, further boosting the investment's attractiveness. The low-maintenance nature of the property simplifies management, making it an ideal "set and forget" addition to an investor's portfolio.
With ample off-street parking available, the property increases convenience for residents, reinforcing tenant appeal. The generous 586 sqm landholding offers scope for future value-adding improvements, redevelopment, or expansion, subject to council approval, positioning the property well for capital growth.
Location advantages include a proximity within a five-minute walk to Northland Shopping Centre and easy access to public transport such as trams on Plenty Road and multiple bus services. Educational institutions including Melbourne Polytechnic and La Trobe University, as well as major health precincts like the Austin, Mercy, and Northern Hospitals, are also easily accessible. Furthermore, Melbourne’s CBD remains within convenient reach, supported by strong population growth and ongoing investment demand in the northern suburb of Preston.
This established rooming house at 32 Holly Street represents a robust and promising income-producing asset suited to investors targeting a well-positioned, high-yielding property with future upside potential in one of Preston’s most coveted locations.
Local Market Insights
In Preston, Quiet Listings observed 44 new houses entering the market over the last 30 days, up from 25 during the previous 30-day period, with an average advertised asking price of $1,192,273. The property type mix of listed properties is predominantly Houses at 51%, followed by apartments (19%), and townhouses (11%). Ray White was the most active agency in this area, representing 19.3% 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
Preston VIC 3072
Market Insights for Preston VIC 3072
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.
