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57 Ballarat Road, Footscray VIC 3011

ROOMING HOUSE $2,100,000 - $2,300,000

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$2.1M - $2.21M Transparent Transparent Listing Based on an openly advertised listing price.

House 10 Beds 4 Baths 836 m²

Listed: 47 days ago

Updated: 3 hours ago

Overview

This substantial property at 57 Ballarat Road, Footscray represents a compelling investment opportunity as a 10-bedroom rooming house. Its robust layout with 10 separate bedrooms supports a high-density accommodation model tailored for maximizing rental income.

The property's practical design is highlighted by centrally located bathroom facilities comprising four bathrooms and four toilets, ensuring convenience for the residents while maintaining a functional shared-living environment. This setup optimizes usability of shared spaces, making it an efficient investment for tenants seeking affordable accommodation.

The site extends over a spacious 836 square metres of land, offering potential for future development or enhancements to further capitalize on this footprint. The property is fully fenced and benefits from secure parking, a deck, balcony, and outdoor entertainment areas which collectively enhance the communal living experience and tenant appeal.

Its location provides easy access to local amenities, shops, and public transport, adding to its attractiveness for tenants and investors alike. This property will appeal primarily to investors looking to enter or expand their portfolio in the rooming house rental sector, seeking a strong yield from a multi-income stream asset.

With a high potential for consistent rental returns and a configuration designed for practicality and tenant comfort, 57 Ballarat Road warrants consideration as a lucrative investment in a well-connected suburb of Footscray.

Local Market Insights

In Footscray, Quiet Listings observed 25 new houses entering the market over the last 30 days, up from 19 during the previous 30-day period, with an average advertised asking price of $1,153,160. The property type mix of listed properties is predominantly Apartments at 49%, followed by houses (37%), and townhouses (6%). The most active agency for houses in the Footscray area is currently Jas Stephens Real Estate, representing 40% of new listings, followed by Village Real Estate with 24%. 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.