Prime Investment Opportunity: Newly Completed Apartment Block with Retail Component in Malvern East
Introducing a newly completed apartment block constructed in 2022, this property offers a compelling investment opportunity with substantial depreciation benefits. Consisting of 13 fully completed 1 and 2-bedroom apartments under one title, this property presents versatility for future strata division and sell-down potential (subject to council approval).
Unit Configuration: The property comprises a mix of fully appointed 1 and 2-bedroom apartments, offering a range of accommodation options to prospective tenants or buyers.
Quality Finishes: Each apartment is well-appointed with quality appliances, and some units come fully furnished, enhancing their appeal to tenants or buyers seeking convenience.
Investment Potential: This property presents a superb long-term investment opportunity, providing current holding income through residential leases or the option to capitalize on higher returns through successful Airbnb leasing, backed by a proven track record.
Retail Component: Additionally, the property features a ground floor retail shop securely leased on a 5-year agreement until 2027, with options extending to 2032, contributing to the overall income stream.
Projected Income: The projected net income stands at $417,071 per annum, excluding GST, presenting an attractive return on investment.
Future Options: Strategically positioned for future growth, the property offers tactical acquisition opportunities, including the potential for long-term investments or sell-down possibilities, supported by a draft strata plan already in place.
Convenient Location: Situated in close proximity to transport links such as Holmesglen Train Station and major bus routes, the property offers convenient access to the Monash Freeway, Chadstone Shopping Centre, and other lifestyle amenities.
Desirable Suburb: Located in Malvern East, a highly sought-after suburb with a median house price of $2,125,000 and $633,500 for two-bedroom apartments, the property benefits from its prestigious location within the City of Stonnington, a blue-chip metropolitan council boasting a Gross Regional Product of $10.13 billion.
Overall, this property presents an enticing investment opportunity with a diverse range of income streams, strategic positioning, and future development potential, making it a compelling asset for discerning investors seeking both immediate returns and long-term growth prospects.
