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Overview
This exclusive portfolio in West Footscray offers a rare opportunity to invest in a well-positioned asset just 8km from Melbourne's CBD. Comprising twelve strata-titled apartments, each thoughtfully designed with two bedrooms and a single bathroom, the collection is tailored for consistent rental income backed by a long-term lease with a corporate accommodation tenant until May 2029.
Each unit benefits from its own dedicated car space, facilitating seamless convenience for residents or tenants. The entire property enjoys steady 3% annual rent increments, ensuring investment growth alongside low landlord outgoings, thanks to recent capital upgrades that have modernized the asset. The portfolio's design promotes a hands-off investment approach with significant depreciation advantages and potential for future strata sell-down, appealing especially to serious investors looking for secure, passive income streams.
- Strategic location in a vibrant suburb known for its growth prospects and proximity to amenities.
- Consistent and secure rental income under a single net lease agreement.
- Each apartment offers functional living spaces suitable for diverse tenant profiles.
- Opportunity to capitalize on both current returns and future property value appreciation through strata sales.
Local Market Insights
In West Footscray, Quiet Listings observed 5 new apartments entering the market over the last 30 days, down from 8 during the previous 30-day period, with an average advertised asking price of $1,344,000. The property type mix of listed properties is predominantly Houses at 45%, followed by townhouses (26%), and apartments (13%). Ray White was the most active agency in this area, representing 54.1% 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.
Location
West Footscray VIC 3012
Market Insights for West Footscray VIC 3012
Other properties in this postcode
* Search brackets are a technical classification derived from unverified metadata set by the listing agent for search filtering. It is not an official price guide, a valuation, or a representation of the seller's reserve. This data is provided for search transparency purposes only.
