FOR SALE
$1,630,000 to $1,760,000

2 Alba Street
Frankston North VIC 3200

Bedrooms: 8
Bathrooms: 8
Car spaces: -
Land area: 613m2
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Rooming house – high yield investment

We are offering a unique opportunity to purchase an amazing residential property that currently generating cash flow of $134,000 p.a. in gross income – a yield of at least 7.6%.
This property is a newly built in December 2023 Class1B Rooming House comprising 8 room with 8 ensuites.
All rooms have access to the central kitchen as well as a coin operated laundry facility in the building.
It has all the necessary council approvals and is registered for use.
This investment offers certainty of income, land tax exemption, and division 43 depreciation benefits.
This property features 613sqm (approx.) of land in a quiet street conveniently located just a few steps from bus stops, local milk-bar, shopping centres, primary and secondary schools, sporting clubs and parks. With major arterials, beaches and everything Frankston has to offer right at your doorstep.
This is a unique investment with high returns and some fantastic unique ownership benefits.
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Property Details for 2 Alba St, Frankston North

2 Alba St, Frankston North is a 8 bedroom, 8 bathroom House. The property has a land size of 613m2. The place is currently for sale with The Hopkins Group.

Building Type
House
Land Size
613m2

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About Frankston North 3200

The size of Frankston North is approximately 5.1 square kilometres. It has 17 parks covering nearly 37% of total area. The population of Frankston North in 2011 was 5,626 people. By 2016 the population was 5,779 showing a population growth of 2.7% in the area during that time. The predominant age group in Frankston North is 20-29 years. Households in Frankston North are primarily single parents and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Frankston North work in a labourer occupation. In 2011, 52.8% of the homes in Frankston North were owner-occupied compared with 51.1% in 2016.

Frankston North has 2,767 properties. Over the last 5 years, Houses in Frankston North have seen a 32.28% increase in median value, while Units have seen a 16.77% increase. As at 31 October 2024:

  • The median value for Houses in Frankston North is $588,181 while the median value for Units is $527,940.
  • Houses have a median rent of $460 while Units have a median rent of $420.
There are currently 21 properties listed for sale, and 6 properties listed for rent in Frankston north on OnTheHouse. According to CoreLogic's data, 142 properties were sold in the past 12 months in Frankston north.

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Joe Bonifazio
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The Hopkins Group
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