Whole Block of 24 Individually Titled Apartments on 1,677 sqm* Landholding – Ability to Hold, Refurbish or Sell Down

Images and floorplans are provided for illustrative purposes and remain the property of their respective copyright owners.

42 & 41 Morang Road, Hawthorn VIC 3122

$8,000,000

Search Band Search Visibility Band

$8M - $8.4M Transparent Transparent Listing Based on an openly advertised listing price.

Apartment 24 Beds 24 Baths 24 Cars 1677 m²

Listed: 19th Jul 2026

Updated: 21st Jul 2026

Overview

This property presents a unique investment opportunity encompassing a substantial block with 24 individually titled apartments in the heart of one of Melbourne’s most desirable suburbs, Hawthorn. The dual address on Morang and Evansdale Roads benefits from a generous land holding of approximately 1,677 sqm, offering flexibility for future development given its dual street frontage and recent rezoning to Housing Choice and Transport Zone – Schedule 1 (HCTZ1).

The building includes a balanced mix of 12 one-bedroom and 12 two-bedroom flats, each configured with one bathroom and complemented by an on-site provision of 24 car spaces, catering effectively to tenant and resident parking demands. The three-winged architectural design maximizes natural light penetration across all apartments, enhancing the amenity and living experience for occupants.

Currently, the apartments present in fair condition, hosting a mix of long-term and new tenants, generating a stable annual rental income of approximately $604,848. This income stream combined with the potential to add value through refurbishment or gradual unit-by-unit sale, positions the property as attractive to investors seeking both steady returns and capital growth opportunities.

The location further enhances the appeal, with proximity to prominent lifestyle and educational amenities such as Glenferrie Road retail precinct, Swinburne University, Epworth Hawthorn hospital, and key transport links including nearby tram stops and Hawthorn train station. This accessibility and the tree-lined, low-traffic character of the neighbouring streets create a pleasant environment suited to professionals, downsizers, and retirees.

Prime 24-unit apartment block generating a solid rental yield
Development potential up to six storeys, subject to planning approval
Generous and flexible land holding with dual street access
Situated in a highly sought-after precinct with excellent connectivity

This property would attract astute investors or developers looking for an established asset with scope for enhancement and growth in a vibrant and accessible suburb.

Local Market Insights

In Hawthorn, Quiet Listings observed 33 new apartments entering the market over the last 30 days, up from 22 during the previous 30-day period, with an average advertised asking price of $869,939. The property type mix of listed properties is predominantly Apartments at 64%, followed by houses (22%), and townhouses (5%). The most active agency for apartments in the Hawthorn area is currently Jellis Craig, representing 33% of new listings, followed by Marshall White with 27%. 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.