Extremely well located, only 350m to the beach, this rare offering boasts an excellent rental return of approx $105,000 per annum with enormous upside development potential.
Situated in a prime location with a massive allotment of just over a quarter of an acre (1095m2 approx.), the capital improvements include four extremely spacious and very solid two-bedroom apartments plus a 5th dwelling which is a two-bedroom villa unit at the rear of the block.
All 5 dwellings are fully leased and have recently undergone extensive renovation.
Perfectly positioned within walking distance of John Paul College and Chisholm TAFE, and just moments from Frankston Beach, the train station, Frankston Hospital and the vibrant café and dining scene - this address delivers an unrivalled blend of lifestyle and convenience.
Whether you're searching for your next investment, development site or simply land banking for future generations, this is a rare find in an exceptional location.
Property Features:
. 5 securely leased, fully renovated units
. Mixed use zoning
. Land area 1095 m2 ( approx )
. Income stream of $105,000 per annum ( approx )
. Ripe for significant development of up to six storey's ( stca )
For further details or to arrange an inspection, please call Russell at Russell Murphy Real Estate - 0407 839 184 - russell@russellmurphy***
