With Bendigo’s student population growing as Latrobe University grows the vacancy rate for rentals and student accommodation is very low.
This purpose built self functioning student accommodation facility is an ideal investment for a savvy investor.
Located within walking distance of the university the property has 8 car parking spots with rear lane access, pin code access locks, 10 containable lockable rooms all with double beds, closets, student desks, running water and basins.
The common areas are designed for the volume of students, and therefore the facility has a high retention rate with return tenants for the school terms, for example;
The food preparation area
has individual lockable food storage units, the cabinetry houses 2 x sinks, 2 x gas hotplates with range hoods, 1 x oven and room for multiple fridges.
Both ends of the property have a communal bathroom complete with 2 x showers, 2 x toilets & a vanity ( floor plan is on this website ).
There is an outdoor living area and an indoor living area.
The design of the entire building has seen hard wearing floor tiles in all high use areas.
The return for the 2010/2011 financial year was $68,500 but with the 10 rooms now full for the 2013 school year at $165 per room for a minimum of 42 weeks this equals close to $70,000 and with other passive income during the school break further income can bring the return up to $75,000.
Running costs are just under approx $20,000
For further details contact Nathan Diss 0448010057