Grab dual incomes with these Melbourne shop-top conversions
Living close to the dentist or coin laundrette is always convenient, and now a scale and clean or laundry day can be more accessible than ever.
Hybrid properties are hitting the market that offer buyers a chance to live upstairs while earning an income downstairs.
The shop-top conversion possibilities in Parkdale are unique in their offering and are attracting a range of buyers from owner-occupiers to part-occupiers and investors.
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A coin laundrette and former yoga studio at 284 Como Pde, is up for grabs and will give its new owner no excuse to skip washing day.
Nichols Crowder Property Solutions’ James Glen says by refurbishing the top floor of the property the buyer could live in it or rent it out.
“In its current form it couldn’t be residential, a kitchen needs to be added but the infrastructure is there,” Glen says.
“It’s being sold as a vacant possession, the buyer can do what they want at the time and it comes with equipment for the coin laundrette.”
Downstairs is a shopfront, office and toilet with rear access to upstairs where a studio/office space, bathroom, small office and deck are located.
“With its flexible layout, fantastic location, and potential for many business uses, this property is sure to attract a lot of attention,” Glen says.
“Parkdale has become a very popular little hub.”
Not only is the type of property a rare offering, but one of only a few retail properties on the strip to hit the market in the past decade.
“I believe there’s only been one on-market sale in the whole of the Como Pde retail strip in the past eight years.”
The listing agents have had interest from $900,000-$950,000 at this stage in the campaign, with the property due to go under the hammer Thursday, March 22 at noon.
And it’s not the only retail and residential amalgam on the market.
A dental practice and office space is up for grabs at 130-130A Nepean Highway, Aspendale.
Upstairs has the potential to be a two-bedroom apartment, with the addition of a bathroom and revamp of the kitchenette.
Hodges Mentone agent Dean Lang says it is a unique opportunity with the ability to reap the rewards of either two retail spaces or both retail and residential.
“It’s an easy spot to have joint incomes from the one building,” Lang says.
“An apartment upstairs is subject to approval but the views are insane.”
The property has a $1.02 million-$1.125 million price guide.
This article from Leader Newspapers first appeared as “Shop-top conversions offer buyers chance to earn an income downstairs while living upstairs”.