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Location

Market Insights for Glen Iris VIC 3146

New Listings (last 30 days)

Average price

$562,500

Lowest price

$340,000

Highest price

$740,000

1-4/2 Glenarm Road, Glen Iris VIC 3146

$3,200,000 - $3,400,000

Search Band

$3.25M - $3.5M High Confidence Calculated based on strong search observations.

Apartment 8 beds 4 baths 4 cars 910 m²

Listed: 9th Jun 2026

Updated: 5 hours ago

Overview

This property is a solid-brick block consisting of four spacious two-bedroom apartments, each thoughtfully designed with a separate dining room. Upon entering, a central hallway leads to a generous living area that is complemented by a dedicated dining space offering appealing front-facing views. Each apartment features a large master bedroom, a second bedroom, a central bathroom, and a well-proportioned kitchen with an adjoining meals area.

Positioned on a substantial allotment of approximately 910 square meters, the property includes a deep rear garden, providing significant potential for future development. Architectural plans have been prepared by Chandler Architects for the addition of two substantial double-storey townhouses. Each townhouse is designed to include three bedrooms and double garaging, while maintaining a single garage for each of the existing four apartments.

Townhouse 1: 177 square meters plus garaging
Townhouse 2: 150 square meters plus garaging

The current lease schedule for the apartments is as follows:

Residence 1: Lease expires on 24 September 2026 with a rental income of $2,173 per calendar month.

Residence 2: Lease expires on 6 November 2026 with a rental income of $2,042 per calendar month.

Residence 3: Currently vacant.

Residence 4: Lease expires on 7 October 2024 (periodic lease) with a rental income of $1,955 per calendar month.

This investment offers a combination of immediate rental returns and future development upside, making it an attractive opportunity for investors or developers looking to capitalize on the location and potential of this property.

Local Market Insights

In Glen Iris, Quiet Listings observed 10 new apartments entering the market over the last 30 days, down from 14 during the previous 30-day period, with an average advertised asking price of $562,500. The property type mix of listed properties is predominantly Houses at 58%, followed by apartments (19%), and townhouses (9%). The most active agency for apartments in the Glen Iris area is currently Jellis Craig, representing 40% of new listings, followed by McGrath Estate Agents with 20%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.