SUBSTANTIAL RESIDENTIAL DEVELOPMENT OPPORTUNITY - CURRENTLY COMPRISING 12 APARTMENTS
Vinci Carbone are delighted to present for your consideration 160-162 Waterdale Road, Ivanhoe. The property comprises 1,937 sqm* of General Residential Zone land in the affluent inner-city suburb of Ivanhoe. Situated in the City of Banyule, the suburb of Ivanhoe has a strong median house price of $1,570,000 and is located only 9km* from the Melbourne CBD.
The property is currently improved with two (2) blocks of apartments comprising 12 one (1) bedroom apartments with six (6) in each apartment block. The current improvements are refurbished and are leased. The property is returning $194,152 per annum*.
This unique opportunity offers exceptional flexibility which will appeal to both developers and investors with its brilliant location in a proven apartment market. The strong fundamentals of the property, coupled with its strong holding income and significant development potential (STCA) represents a great opportunity to astute buyers.
Key highlights:
Over 1,937 sqm of General Residential zoned land with 45 metre* frontage to Waterdale Road.
This square shaped site is currently improved with 12 apartments spread over 2 separate blocks plus parking.
All apartments are currently leased and returning an annual rental income of $194,152 per annum*.
This property presents an excellent development opportunity now or in the future (STCA).
Ideally located on Waterdale Road in close proximity to the premium retail amenity found on Upper Heidelberg Road as part of the Ivanhoe Activity Centre.
The site has direct linkages to the CBD (9km* from property) via Heidelberg Road and is well serviced by public transport with both train and bus services being within walking distance.
For Sale by Public Auction Saturday 4 May at 11am (on-site)
*approx.