240 Burwood Highway

Burwood VIC 3125

654 m²

House

Currently for sale - view listing

Overview

Blue-Chip High-Yield Investment Opposite Deakin University – Accredited 14-Room Rooming House Asset with Major Development Upside

240 Burwood Highway & 2A Peacock Street, Burwood are being offered together across two separate titles, delivering an exceptionally rare investment opportunity in one of Melbourne’s most tightly held and consistently high-performing education precincts. Positioned directly opposite Deakin University on a combined 654sqm approx. corner landholding within Residential Growth Zone 2, this income-producing asset combines strong immediate cash flow, near-zero vacancy risk and substantial long-term development potential. Currently operating as approved and accredited rooming houses, the properties benefit from consistently high occupancy throughout the year, underpinned by relentless student and accommodation demand from Deakin University and surrounding educational institutions. The existing medium-term rental agreements average approximately $800 per room per month (approximately $134,000 per annum in total), creating a highly attractive income stream with further upside available through rental optimisation, refurbishment or reconfiguration. Together, the two freestanding brick residences provide an impressive total of 14 bedrooms and 4 bathrooms across two separate dwellings, making this a rare scale offering in a proven rental catchment. 240 Burwood Highway occupies the larger corner allotment of approximately 456sqm and features a substantial nine-bedroom residence with a wide 29.8m approx. frontage to Peacock Street, providing outstanding future design and redevelopment flexibility (STCA). 2A Peacock Street sits privately beside it on approximately 198sqm and comprises a five-bedroom residence with two bathrooms and comes complete with a garage, carport and wide driveway access. For investors, the appeal is multi-layered: • Strong existing holding income with proven occupancy history • Significant rental demand driven by Deakin University directly opposite • Potential to increase returns through renovation or extension (STCA) • Future redevelopment scope within Residential Growth Zone 2 (STCA) • Exceptional long-term land banking opportunity in a high-growth corridor • Potential future purpose-built student accommodation or boutique multi-residential project (STCA) The location credentials are extraordinary. Directly opposite Deakin University and only moments from the under-construction Burwood Train Station, the property is exceptionally connected by tram, bus and major arterial networks. Surrounded by elite private schools including PLC and Mount Scopus Memorial College, and within close reach of Burwood One, Burwood Brickworks, Box Hill Central, Aqualink and the Gardiner Creek Trail, this is a location with enduring tenant demand and powerful future growth fundamentals. An exceptionally rare opportunity to secure a high-yield, blue-chip corner investment with immediate income, future scalability and significant development potential in one of Melbourne’s premier education and transport precincts.