Description
This is a rare opportunity to acquire one of the most sought-after flats in the city's premier student rental location. Situated on a highly desirable street for third-year university students, this property consistently attracts strong tenant demand. Every year, around Easter, we receive multiple inquiries from female groups, very eager to secure these flats for the following year.
Originally rented as two separate five-bedroom flats, this property recently evolved into an extremely popular 10-bedroom residence, consistently securing high-quality tenants and delivering steady rental growth.
In recent times, the building has undergone a number of upgrades including re-cladding with linea weatherboard, new paint, carpet/vinyl/ curtains and double glazing.
Spread over three stories, the property consists of 10 spacious bedrooms, 2 bathrooms, 2 toilets, 2 laundries, 2 spacious, open plan kitchen/ living / dining areas, 2 car ports and an easy to maintain courtyard/ section out back that is positioned well for afternoon sun.
Strong Rental Returns & Future Growth
• Currently rented at $2,080 per week for the remainder of 2025
• Projected rental increase to at least $2,180 per week in 2026, with no additional work required
• A simple kitchen renovation and the addition of dishwashers would see a significant increase in income and property value
Capital Growth Potential
The appeal of high-demand, 10-bedroom flats is their ability to generate exponential value growth.
• At a 6.5% cap rate, a $10 per room rent increase equates to $80,000 in added property value
• Based on rising student demand and forecasted interest rate reductions, an annual value increase of at least $80,000 is a conservative estimate for the remainder of the decade
• 8+ bedroom flats are in very high demand and low supply.
This is an exceptional mid-to-long-term investment in a thriving rental market. Secure this prime asset now and benefit from strong yields, consistent appreciation, and no vacancy risk for years to come.
