197 Civic Parade

Altona VIC 3018

Block of units

Last sold for $2,145,000

Eric Mancini, last sold this property on 02 September 2026 after 20 days on market.

Overview

Once-in-a-Generation Bayside Investment – 4 Units, One Exceptional Holding

Offered for the first time since 1990, this tightly held block of four single-level brick units occupies an impressive 1,208m² site and presents a rare opportunity to secure an established investment or development opportunity in this prime Altona location. Solid, reliable and built for longevity, each residence features quality brick construction on a concrete slab, impressive brickwork and traditional terracotta roof tiles - a testament to the enduring quality of the original development. The property has been securely leased for the majority of its life and continues to offer strong rental appeal, with potential rental income of approximately $500 per week, per unit. Each residence comprises two generous bedrooms with built-in robes, a spacious lounge, kitchen and meals area, central bathroom, separate WC and laundry, heating and cooling, private low-maintenance courtyard and single garage. Importantly, the opportunity extends beyond the existing income. With four established residences across 1,208m², there is potential for future subdivision or total redevelopment or knockdown-rebuild (STCA), providing flexibility to hold, improve or explore individual titles over time. The location completes the investment case - within walking distance of Altona P-9 College (500m away), Altona Beach and Pier (1,500m away), Altona Train Station (900m away) and Cherry Lake Reserve (700m away), with Harrington Square and Altona Village also close by. Plus, a short distance to CBD Melbourne, only 19km away. Four units. 1,208m². One exceptional holding. Established income with future potential. Opportunities of this scale, construction quality and position are rarely offered in Altona. Contact Eric Mancini or James Abate from Mancini Real Estate for further information or to arrange an inspection.