Substantial Apartment Complex with Income & Potential
Fitzroys is delighted to offer for sale this substantial apartment complex located within 100 metres from the intersection of High Street and Plenty Road all within the rapidly developing and vibrant inner northern suburb of Thornbury.
This complex comprises of 20 separate 1-bedroom apartments all to be offered on 1 freehold title and will suit those investors wishing to refurbish and generate substantial rental uplift with the flexibility to sell down each apartment in the future (STCA).
The key attributes of this opportunity include:
- First time offered in 60 years!
- Exceptional land area of 1,170sqm* with rear access entered from Dundas and Archbold Streets
- 20 separate 1-bedroom apartments with on-site parking available
- Substantial rental growth potential upon refurbishment of existing apartments
- REA Group (May 2023) report the median rental price for 1 bedroom apartment in Thornbury have risen by 6.9% in the last 12 months to $310 per week
- Currently returning $164,040 per annum from 14 occupied apartments.
- Zoned General Residential – Schedule 2 – (GRZ2)
- Short walk to popular High Street which includes notable traders including Little Henri, Umberto Espresso Bar, Barton Fink, Cedar Bakery and a plethora of local and established businesses
- Surrounded by a variety of completed and pipeline developments destined to create greater vibrancy and foot traffic to the area
- Proximity to Thornbury Train Station plus excellent tram and bus transport options available
12 Dundas Street Thornbury presents an outstanding opportunity to acquire a substantial freehold apartment complex with the ability for the successful purchaser to generate excellent rental growth with the flexibility to re-configure and/or sell down the apartments in the future (STCA).
FOR SALE BY PUBLIC AUCTION TUESDAY 20TH June at 1PM