Prime Location Ready to Re-develop or Keep as Existing 28 Properties STCA
In a picturesque residential street, only 500m to Glenferrie Road's superb array of shops, restaurants and cinemas, this substantial 3-level block of 28 apartments represents a myriad of exciting opportunities (STCA). Directly adjacent to Elphin Reserve and with no heritage overlay, it is the ideal site to build a new luxury home designed to your own tastes and requirements, a dual occupancy development or an entirely new enclave of boutique apartments. Alternatively, as is or refurbished, the superbly maintained and highly rentable block is a rewarding addition to any investment portfolio.
Only moments to Auburn and Glenferrie stations, Central Gardens, Swinburne University, a range of excellent schools and with a side right of way, this is an exceedingly rare chance to maximise the value of this highly coveted location and 638sqm approx. allotment.
Key Highlights:
- Freehold property comprising 28 apartments (studio or 1 bedroom with 1 bathroom) plus on-site parking
- Substantial parcel of land of 638sqm approx.
- Two street frontages
- Overlooking adjoining parkland
- Within the quiet, tree-lined residential street
- Potential to return $292,000 (Fully leased)
- Subject to short term monthly tenancies
- Potential to sub-divide or redevelop (STCA)
- Zoning: General Residential Zone 3 (GRZ3)
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