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38-40 & 42-54 Burnt Street
Nunawading VIC 3131
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Sold on 22 Dec 2021

38-40 & 42-54 Burnt Street Nunawading VIC 3131

  • Development / Land
  • 8,059 m²
  • Sold

An Opportunity as Vast as the Frontage - EOI Closed, Offers Under Review

POINT OF INTEREST:
There’s a reason this brilliant piece of Nunawading hasn’t been on the market for 60 years. Undoubtedly the best bang-for-buck, this addition to your current portfolio will immediately start paying itself off.

With over 8,000 sqm* of residential land and 50 dwellings in this coveted suburb, the spectrum of opportunity for this investment is as vast as the frontage, clocking in at 148 m*. An easy candidate for small enhancements to "add value", a once-in-a-lifetime redevelopment opportunity for new townhouses, apartments, or perhaps aged care housing, or simply a prime investment as it is —  this is a rare, massive offer of assets with grand potential.

At 38-40 Burnt there are eight single-level villa units with two bedrooms and one bathroom, and at 42-54 Burnt you’ll inherit 42 flats, also with two bedrooms and one bathroom, and seven two-storey buildings – all including a covered car space. The point of difference: the property is already bringing in $525,000 of diverse income annually from multiple tenants, with the opportunity to fully lease and bump this up to $678,000. An extraordinary allowance of consistent income while you plan this site’s next life will pay off in dividends.

Regardless of what is in this property’s future, the value of its location will only rise. Nunawading train station is merely 550 m* away with Lilydale and Belgrave lines, and the 901 bus route on Whitehorse Road takes you all the way from Frankston to Tullamarine Airport. Only 100 m* from the community hub, 100m* to the Nunawading homemaker precinct, a seven-minute drive to Eastland shopping centre, and you’re surrounded by bike paths, Blackburn Lake Sanctuary, and Walker Park. 

-    8059 sqm* (over 2 acres) of land across three titles.
-    50 dwellings of circa 1960/70s construction.
-    Current income of $525,000 per annum
-    Potential for $678,000 fully leased income per annum.
-    148 m* of north-facing frontage
-    54 m* Eastern boundary frontage to Feiglin Park / Burnt Street Reserve.
-    Favourable General Residential Zone (GZ1) within the City of Whitehorse Planning Scheme
-    550 m* from Nunawading train station.
-    4.88 km* from Eastland shopping centre.
-    18.3 km* from Melbourne CBD.

POINT OF VIEW:
If you’ve been around the (investment) block before, this is that portfolio-enhancing purchase that’s a complete game-changer. Don’t sleep on it.
 

CVA Property Consultants Pty Ltd
CVA Property Consultants Pty Ltd
18-20 Russell Street
Melbourne, VIC 3000

Property Highlights

Date Sold22 Dec 2021
Floor Area2,856 m²
Land Area8,059 m²
ParkingAsk Agent
Property ID2017382451
Category
Last updated  22 Dec 2021
Map for 38-40 & 42-54 Burnt Street Nunawading VIC 3131

Nearest transport* to 38-40 & 42-54 Burnt Street Nunawading VIC 3131

Bus
Train
Springvale Rd/Whitehorse Rd (Nunawading)261 m
Metropolitan Ave/Whitehorse Rd (Blackburn)291 m
Springvale Rd/Whitehorse Rd (Nunawading)298 m
Tunstall Ave/Springvale Rd (Nunawading)357 m
This data is © 2024 Department of Transport and Planning (VIC), licenced under CC BY 4.0.
*Within a 4km radius
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CVA Property Consultants Pty Ltd
CVA Property Consultants Pty Ltd
18-20 Russell Street
Melbourne, VIC 3000

Property Highlights

Date Sold22 Dec 2021
Floor Area2,856 m²
Land Area8,059 m²
ParkingAsk Agent
Property ID2017382451
Category
Last updated  22 Dec 2021

Co-Agents

Stan Dawidowski
Stan Dawidowski
CVA Property Consultants Pty Ltd
Call
0400 448 755
Daniel Philip
Daniel Philip
CVA Property Consultants Pty Ltd
Call
0439 977 121
Ian Angelico
Ian Angelico
CVA Property Consultants Pty Ltd
Call
0418336088

More about 38-40 & 42-54 Burnt Street Nunawading VIC 3131

38-40 & 42-54 Burnt Street Nunawading VIC 3131 is categorized as Land & Development Property. It has a floor area of 2,856 m² and a land area of 8,059 m². The listing ID for this property is 2017382451.

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