1-9/184 Westgarth Street Northcote VIC 3070

City fringe block of apartments- fully leased

Located in the thriving city fringe suburb of Northcote, this fully leased block of apartments is the perfect investment with potential to reposition or develop a premium residential complex (STCA).

- Apartment block comprising 9 apartments with on-site car parking
- Fully leased investment in a high demand area
- Currently returning $144,168 p.a approx.
- Potential to sub-divide and sell down or further refurbish to unlock enhanced value
- Total land area of 930 sqm approx.
- Inherent land value with enormous potential to develop a premium residential complex on expiry of leases (STCA)
- Meters to Merri Creek Reserve and park surrounds, ideal for the avid walker, runner, or cyclist
- Dennis train station is located within minutes of the property providing perfect connectivity to the CBD
- Surrounded by an abundance of bustling cafes and restaurants
- Northcote is one of Melbourne's trendiest suburbs and has experienced phenomenal house price growth, with a median house price now over $1,350,000 (source REIV)

For further information or to discuss the opportunity in detail, please contact Knight Frank directly.