For investors looking for a larger, purpose-built accommodation investment in Hamilton, Unit 3 at Littler Place offers an opportunity to secure an established room-by-room rental property with great tenants already in place.
The property features five bedrooms and 4.5 bathrooms. Four bedrooms each have their own ensuite. This configuration offers a practical balance of private bathroom facilities and shared accommodation, making the property well suited to its current rental model.
Fully furnished and currently returning $1,100 per week, the property provides an established income stream for investors seeking a property with its accommodation setup already in place. With great tenants currently renting the rooms, buyers have the opportunity to acquire an investment with an existing rental arrangement rather than needing to establish the entire operation from scratch.
The purpose-built design is a significant point of difference. Rather than adapting a conventional residential home to accommodate multiple tenants, this property has been designed specifically for room-by-room living. The combination of five bedrooms, multiple bathroom facilities and furnished accommodation makes it a practical proposition for investors targeting the student and shared-accommodation market.
Its location near the University adds to its appeal, with the property positioned to serve demand for accommodation in the surrounding area. For investors looking to grow their portfolio, the established rental model, furnishings and existing tenants make this an opportunity worth investigating.
At the current rental return of $1,100 per week, the property generates $57,200 gross per annum, assuming 52 weeks at the stated rent. Buyers can use this figure as a starting point for assessing the investment, taking into account their own due diligence on expenses, maintenance, insurance, vacancy allowances and net returns.
Double the opportunity at Littler Place
For buyers looking to expand beyond a single property, Unit 2 at Littler Place is also available for purchase. This purpose-built, fully furnished three-bedroom property features an ensuite for each bedroom and currently returns $800 per week.
Acquiring both properties would provide five-bedroom and three-bedroom accommodation investments in the same location, with combined stated rental income of $1,900 per week, or $98,800 gross per annum, assuming both rents continue for 52 weeks.
Whether you're looking to secure one established investment or explore the potential of purchasing both properties, Unit 3 offers an attractive combination of purpose-built accommodation, multiple bathroom facilities, existing tenants and rental income.
