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Back 59 Clow Street
Off Market

59 Clow Street

Dandenong VIC 3175

15
13
13
2127 m²
Block of units
Last sold for $3,700,000
Daniel FarrugiaDaniel Farrugia, last sold this property on 28 July 2025 after 322 days on market.

Overview

Prime Investment Opportunity

2127sqm Block with 2 two bedroom units and 11 One-Bedroom Units + Development Potential Property Highlights: 2041sqm block on one title 13 well-maintained, fully tenanted units Private car parking for all units Impressive rental income of approx. $200,000 per year Zoned for potential large-scale apartment development (STCA) This is a rare opportunity to secure a high-yielding investment property with strong rental returns, offering immediate cash flow and significant development potential. Situated on a substantial 2041sqm parcel, the property features 13 individual one-bedroom units, each complete with its own parking space, making it a desirable option for tenants and investors alike. The property currently generates an annual rental income of approximately $200,000, thanks to existing long-term tenants. However, based on today's rental market, the potential rental income is estimated to be around $300,000 per year. This asset offers a stable return, with an approximate gross return on investment of 6.5% (potentially), but its true value lies in the potential to develop a large apartment complex (Subject to Council Approval). Perfect for astute developers or investors looking for a property that combines current income with future growth potential. Don't miss this exceptional opportunity! Photographs may incorporate virtual furniture staging. All structures depicted remain unaltered.

Features

15 bedrooms
13 bathrooms
13 carspaces
2127 m² lot size
Block of units

Estimated Value

We need at least 3 similar 15 bedroom block of units sold in Dandenong over the last 12 months.

Property history for 59 Clow Street

2025
Sold
$3,700,000
Private Sale/Treaty on 28 Jul 2025 by Daniel Farrugia, of Harcourts Dandenong

Happy sellers in Dandenong

87%
87% of sellers in Dandenong reported that their sale price either exceeded or met their price expectations.

Dandenong stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 136 reviews in Dandenong over the last 12 months.

Local market activity for 15 bedroom block of units in Dandenong

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