339 Ferrars Street,
South Melbourne, VIC 3205

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ULTIMATE ADD VALUE AND OCCUPY OPPORTUNITY WITH 23+ METRES FRONTAGE

The most exciting Mixed Use site in the Albert Park vicinity with possibly the best garage in the area housing 6-7 cars.
A rare opportunity to obtain high income streams from 5 current tenancies (including Optus) and occupy part or increase income immediately whilst planning for refurbishment or redevelopment STA. Great residential potential (sta).
Multiple bathrooms and kitchenette facilities with a full kitchen and 2 renovated bathrooms in the top floor apartment/office for private use.

Overlooking St Vincent Place gardens, a stroll to Albert Park Lake, shops, parkland and MSAC with the light rail to the city adjacent.

Current income $111,000 pa approx, with immediate potential for $160,000 pa or more (est) as is.

Note - garage and top floor predominantly vacant possession.
Land 237 sqm Building 510 sqm (approx).

South Melbourne, 3205 demographic data

The median household income for South Melbourne is $2,101, 11% higher than Greater Melbourne's household income of $1,901. South Melbourne has an older age profile compared to the rest of Greater Melbourne (median age 39 vs 37). Property ownership data shows 53% of property owners in South Melbourne have a mortgage.

11,548

Population

$2,101 per week

Median household income

39 years

Median age

Renters

Most residents

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Most households