A WHOLE BLOCK OF OPPORTUNITY

Sale Details

Sold on 01 Dec 2023 for $2,200,000

Description

POINT OF INTEREST:
The inner-city suburb of Brunswick is so very Melbourne. Think cafes, experimental dining and vintage designer stores, and now – the ultimate value add opportunity.

Sure to spark interest from local and interstate property players looking to a secure prime land in the inner north, this two-level residential apartment block, consisting of nine one-bedroom apartments, is presented as one whole offering. And its the development opportunity you’ve been looking for.

With a land holding of 601sqm*, as it stands, this is a stellar addition to any portfolio, only sweetened by the existing holding income. Here, you can capitalise on the potential of a well-positioned city fringe site in highly sought-after Brunswick West. Couple that with the ever-growing need for convenient and accessible housing for the tens of thousands of students who attend Melbourne University only 3.7km* away, and buyers looking to get their foot in the city fringe market – and you’ve got yourself one big block of development opportunity.

As inner-city locations go, it doesn’t get much better. Close to some of Melbourne’s big ticket attractions including the Zoo & Flemington Racecourse, this location - right on the cusp of Parkville – is close to the Royal Melbourne Hospital, Princes Park & Western Oval. Tram route 58 to Flemington Bridge station and bus route 504 are also within metres for an effortless daily commute.

- Whole block of nine apartments
- Neighbourhood Residential Zone - Schedule 1
- 601sqm* land holding
- Current rental income
- Subdivision potential (STPA)
- 23% increase in rents over the past 12 months**
- 120m* to route 58 tram
- 1.1km* to Jewel train station & 800m* to Royal Park Railway Station
- Close proximity to Melbourne University & Royal Melbourne Hospital precinct
- 1.8km* to Royal Park
- 3km* to Melbourne CBD

POINT OF VIEW:
Finding capital growth opportunity is hard – here, we’ve done the hard work for you, and it’s where you’ll make your mark in one of Melbourne’s best inner north neighbourhoods.

*Approx.
Pricing excludes GST