SUBSTANTIAL RESIDENTIAL DEVELOPMENT OPPORTUNITY
160-162 Waterdale Road, Ivanhoe VIC 3079
Auction 04/05/24
Commercial LandSize: n/a
Block size: 1937 m² approx.
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.
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.
Inspections
No open inspections scheduled.
Send an enquiry
Contact Frank Vinci to learn more about this property, request an inspection or take an online tour.
Auction
Saturday 4 May, 11:00am
On Site
Key details
Property type:
Commercial Land
Block Size:
1937 m²*
Other Details
Maps and area information
Block information
Block size: 1937m² (approx)
No block information available
Measurements are estimates only and based on data provided under licence from
© PSMA Australia 2024.
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A block's planning zone defines how that land can be used and what can be built on it.
A right to use a part of land owned by another person for a specific purpose. The most common forms of easements are for services, such as water, electricity or sewerage.
The value of a block of land without any buildings, landscaping, paths, or fences. This is different to the block's market value. A block's unimproved value is used to calculate rates and land tax charges.
This represents the shape of the geographical land. Closely spaced contour lines represent a steep slope. Widely spaced lines represent a gentle slope.
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Property history
You don't need a time machine, we've built one for you. Research this property's past sales on the timeline below.
06 Apr 2017
Sold
CBRE
Listed: 08/03/2017
Block size: 1937m²
Transfer type: Full transfer
Ivanhoe suburb information
A little bit about who lives locally, as provided by government census data
SummaryMedian sales
Average Age
42 years
Population
13,374
Listing ID: 182376354. This listing has been viewed 4 times. It was first displayed on 15/03/2024 and last updated on 15/03/2024.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.