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677 Park Street, Brunswick VIC 3056

PRIVATE SALE: $2,500,000 - $2,750,000

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$2.5M - $2.63M Transparent Transparent Listing Based on an openly advertised listing price.

Apartment 24 Beds 20 Baths 7 Cars 647 m²

Listed: yesterday

Overview

Located at 677 Park Street, Brunswick, this substantial whole-block offering comprises 24 apartments situated on a compact yet valuable 647sqm landholding. The site presents a rare investment opportunity in a highly sought-after Melbourne inner-north corridor, directly opposite the vast green expanse of Princes Park, providing appealing parkland views and immediate access to outdoor recreation.

The property functions as a solid brick walk-up building spanning three residential floors over an undercover parking level, optimizing space with a long concrete driveway along one side leading to ample parking under the building. The complex offers seven dedicated car spaces, adequate for residents, a valued amenity in this vicinity.

Designed with practicality in mind, the apartments themselves are freshly painted and straightforward to maintain, reflecting a focus on efficient living rather than ornate finishes. Many units benefit from private balconies, extending living space and enabling tenants to enjoy natural light and fresh air. This setup appeals to a wide range of tenants including students, academics, hospital staff, and professionals due to proximity to prestigious educational institutions such as the University of Melbourne, Monash University’s Parkville campus, RMIT Brunswick campus, Trinity College, and the Parkville medical precinct.

Investment potential is underscored by a single owner holding the entire block, simplifying decision-making regarding leasing strategy, property upgrades, and long-term planning, without the need for inter-owner negotiations. The site offers versatile options: holding for steady rental income, incrementally upgrading apartments to enhance value and rents, or potentially redeveloping the land subject to council approvals.

Brunswick itself is undergoing significant transformation with new apartment and mixed-use developments emerging, particularly around Sydney Road and the Brunswick activity centre. The availability of large, rectangular parcels with a 16m frontage and 40.4m depth in this growth corridor is increasingly scarce, making this property a rare and strategic holding.

Local Market Insights

In Brunswick, Quiet Listings observed 33 new apartments entering the market over the last 30 days, up from 11 during the previous 30-day period, with an average advertised asking price of $635,106. The property type mix of listed properties is predominantly Apartments at 51%, followed by houses (28%), and townhouses (11%). The most active agency for apartments in the Brunswick area is currently Belle Property, representing 21% of new listings, followed by Nelson Alexander with 21%. 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.