Rare Whole Block of 9 Apartments + Land, 100% Leased with Ability to Hold, Refurb or Reposition
Stonebridge Property Group is pleased to present 87 Merton Street, Albert Park, for sale via Public On-site Auction.
Key highlights of the opportunity include:
- Whole block of nine (9) fully leased flats that present a stable income stream in the blue-chip suburb of Albert Park
- Large dual street frontage landholding of 486 sqm* allows for flexibility of access to the property for future development
- Potential for conversion into a whole prestigious home or family compound (STCA)
- Enormous potential for value-add and rental uplift through refurbishment / releasing of existing flats
- Building configuration includes 7 x 1-bedroom flats & 2 x 2-bedroom flats with 9 on-site car spaces
- Future development potential providing for residential accommodation outcomes (STCA)
- Prestigious Albert Park precinct with a median house price of $1,900,000^, which is 2x higher than the Metro Melbourne median
- Excellent transport linkages with tram and bus stops along Richardson Street and Victoria Avenue, and in close proximity to Kerferd Road and Ferrars Street, providing direct access to the Melbourne CBD
- A location that suits families, young professionals, down-sizers and retirees, being only a short walk to a vast array of lifestyle amenities including Albert Park retail precinct (500 m*), Woolworths Metro (450 m*), State Sport Centre's – MSAC (800 m*), Albert Park Lake (900 m*) and Port Melbourne beach (750 m*)
To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Max Warren
0488 296 892
Dylan Kilner
0459 396 341
Tony Sun ???
0432 022 868
*Approximately
^ REIV
Property Code: 1056