3 Leonard Street, Dandenong

Positioned in a highly desirable central Dandenong setting, this approximately 600m2 property presents a distinctive opportunity to acquire a high-quality development in a prominent area poised for growth.

The location offers the convenience of being within walking distance to picturesque parkland and scenic walking trails. It also boasts excellent infrastructure nearby, including Dandenong Hospital, Chisholm Institute, local primary and secondary schools, public transport options, renowned restaurants, charming cafes, and the iconic Dandenong Market.

With a permit included, this property is primed for the construction of a modern rooming house facility featuring nine boutique residential rooms. The versatile accommodation will cater to a diverse range of tenants, including young professionals, students, downsizers, singles, and young couples. Each room will boast a private ensuite, and one room will be designed for NDIS/disabled access.

All rooms will be fully self-contained, complete with an ensuite bathroom, kitchenette, and built-in wardrobe. Additionally, residents will have access to a communal kitchen, lounge room, and laundry facilities.

Nestled in this tranquil central location renowned for its walkability, this proposed facility has the potential to generate an impressive gross return of up to $140,000 per annum for the owner.

Currently, the property includes a residential home with three bedrooms and a family bathroom, generating a rental income of $360 per week.