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Overview
Situated on a prominent corner parcel in the heart of St Albans, this offering presents a rare prospect for developers and investors alike. With a substantial land size of 915 square meters and zoned within a Residential Growth Zone, the site holds considerable redevelopment potential subject to council approval.
The current built form includes four separate units, each thoughtfully designed with two bedrooms, a bathroom, and a dedicated car space. This setup not only generates multiple rental income streams but also provides a valuable foothold in a sought-after location, positioned just steps away from the bustling Alfrieda Street shopping precinct and close to key transport links and schools.
The property's unique combination of steady rental yield and future land potential creates an attractive balance between immediate returns and long-term capital growth. Its corner position enhances visibility and access, important considerations for any redevelopment project. Investors can confidently acquire this portfolio with income in place, while developers can plan strategically for future transformation in a growth corridor.
- Highly strategic corner site with strong redevelopment prospects
- Four established rental units providing ongoing income
- Close proximity to vibrant retail and transport hubs
- Generous land size supporting multiple use options
This property is ideally suited to those seeking a solid investment with the flexibility to explore future development plans, making it a compelling opportunity in St Albans’ evolving market landscape.
Local Market Insights
In St Albans, Quiet Listings observed 32 new houses entering the market over the last 30 days, up from 22 during the previous 30-day period, with an average advertised asking price of $752,281. The property type mix of listed properties is predominantly Houses at 73%, followed by units (13%), and land (9%). The most active agency for houses in the St Albans area is currently OBrien Real Estate, representing 25% of new listings, followed by Area Specialist with 13%. 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.
Change History
| Headline | When |
|---|---|
| $1,500,000 - $1,650,000 | |
| Auction | $1,500,000 - $1,650,000 |
Location
Market Insights for St Albans VIC 3021
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