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Overview
This significant investment opportunity presents a unique assemblage of properties at a prime location in West Footscray, an area marked for growth and improved amenity. The offering includes three residential units and a cafe shop, each fully equipped with kitchens, bathrooms and laundry facilities, providing a reliable and diversified income stream under secure and long-term lease arrangements.
Situated in a sought-after pocket, the property benefits from proximity to extensive public transport links including nearby bus routes and Tottenham Station, connecting residents efficiently to the city centre only 9.1 km away. Local lifestyle attractions further enhance the appeal, with access to parks such as Martin Reserve Fenced Dog Park, and the vibrant, multicultural food scene within Footscray’s renowned market and shopping precincts just minutes away.
Families are well served with access to high-demand public schools within walking distance or short bus rides, including Footscray West Primary School and Footscray High School's Barkly Campus, adding to the property's tenant desirability and longer term asset security.
The configuration of the units caters well to a range of tenant types, with a larger three-bedroom unit offering family accommodation alongside more compact two-bedroom units suitable for couples or sharers. The presence of a cafe adds to the mixed-use aspect, potentially appealing to both residential and commercial tenants, and enhances the precinct’s vitality.
Investors looking for a sound asset can appreciate the property's stable income with potential for capital growth, and opportunities for future redevelopment subject to planning approval. The combination of income diversity, location advantages, and amenity access makes this portfolio an attractive consideration for those seeking long-term investment performance.
Local Market Insights
In West Footscray, Quiet Listings observed 37 new houses entering the market over the last 30 days, up from 17 during the previous 30-day period, with an average advertised asking price of $912,649. The property type mix of listed properties is predominantly Houses at 45%, followed by townhouses (27%), and units (12%). Jas Stephens Real Estate was the most active agency in this area, representing 37.8% of all new listings in the last 30 days. 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.
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Location
West Footscray VIC 3012