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Overview
Situated on a prominent corner allotment within one of Blackburn's most sought-after residential enclaves, this substantial unit complex offers a unique investment opportunity. The significant landholding combined with the property's position in a strong school zone adds considerable appeal.
Currently consisting of four established units generating approximately $88,400 in annual rental income, the property provides a reliable cash flow, positioning it well for investors seeking steady holding income. The possibility of future development, subject to council approval, opens avenues for value enhancement and capital growth.
Set within the coveted Box Hill High School zone, the property benefits from strong demand driven by families prioritising access to quality education. Its proximity to key transport links and local amenities further enhances its desirability.
The dual street frontage and corner block presence not only affords potential for improved redevelopment options but also ensures excellent visibility and street appeal.
This investment is particularly suitable for investors focused on secure income combined with long-term growth prospects, especially those attracted to blue-chip schooling districts and well-located properties with development potential.
Local Market Insights
In Blackburn, Quiet Listings observed 6 new units entering the market over the last 30 days, up from 3 during the previous 30-day period, with an average advertised asking price of $896,667. The property type mix of listed properties is predominantly Houses at 59%, followed by townhouses (18%), and units (14%). The most active agency for units in the Blackburn area is currently Woodards Real Estate, representing 50% of new listings, followed by Jellis Craig with 33%. 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
Market Insights for Blackburn VIC 3130
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