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Location

Market Insights for Footscray VIC 3011

New Listings (last 30 days)

Average price

$495,862

Lowest price

$295,000

Highest price

$725,000

1-9/13 Hyde Street, Footscray VIC 3011

$3,200,000 - $3,500,000

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$3.2M - $3.36M Transparent Transparent Listing Based on an openly advertised listing price.

Apartment 18 Beds 9 Baths 8 Cars 709 m²

Listed: 51 days ago

Updated: 23 days ago

Overview

This exclusive property presents a rare investment opportunity comprising nine individual two-bedroom apartments available as a single lot in the highly sought-after Footscray suburb. With a significant land area of 709 square meters and a wide street frontage of over 15 meters, the site offers an expansive and versatile footprint.

Strategically located less than 250 meters from Footscray Train Station and only about 6 kilometers from Melbourne’s CBD, the property delivers excellent transport connectivity combined with the vibrant lifestyle of the inner west. Footscray’s rich cultural scene, cafes, bars, markets, and parks contribute to the appeal, making these apartments attractive to a diverse tenant base.

The current lease arrangements provide a stable income stream, with several apartments secured under fixed-term leases and others leased periodically, including one unit currently vacant. The rental return potential is robust, with an impressive estimated annual income approaching $234,000.

Consisting of 9 two-bedroom apartments each with individual tenancy agreements
Activity centre zoning enhances future development prospects and value-add potential
Rear lane access facilitates easy service and tenant movement
Positioned in a thriving neighbourhood with continuous growth and infrastructure upgrades such as the new Footscray hospital and Westgate tunnel

For investors or developers looking for a blue-chip asset with multiple income sources and value enhancement opportunities, this property offers a strategic foothold in one of Melbourne’s fastest-growing inner-city markets.

Local Market Insights

In Footscray, Quiet Listings observed 29 new apartments entering the market over the last 30 days, up from 21 during the previous 30-day period, with an average advertised asking price of $495,862. The property type mix of listed properties is predominantly Houses at 44%, followed by apartments (41%), and land (7%). The most active agency for apartments in the Footscray area is currently Jas Stephens Real Estate, representing 24% of new listings, followed by Compton Green Bayside with 14%. 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.