Strata-titled boutique complex of 9 apartments with approved permit for 12 NDIS apartments
An exceptional opportunity to secure a boutique complex of nine individually strata-titled apartments on a generous allotment of approximately 890 square metres. Ideally suited to developers, investors, or a Superannuation Fund with a long-term vision, this rare offering provides immediate flexibility and multiple future possibilities. Adding to its appeal, the property comes with a town planning permit already approved for the development of 12 NDIS apartments.
Located moments from the vibrant Kew Junction retail precinct, the existing complex comprises five two-bedroom and four one-bedroom apartments, all well-maintained and positioned with wide street frontage and rear right-of-way (ROW) access. With a solid rental history, the property is currently generating approximately $167,180 per annum, benefiting from a mix of flexible lease arrangements. Future potential includes further refurbishment, individual resale, or complete redevelopment of the site (STCA).
The current development spans two levels, featuring a combination of ground-floor and first-floor apartments, all designed for easy, low-maintenance living with bright, spacious interiors. At the heart of each residence is a well-proportioned lounge and dining area alongside a functional kitchen. Four of the first-floor, two-bedroom apartments also boast private balconies. The property further includes nine designated undercover car spaces, with convenient vehicle access from both Pakington Street and the rear ROW.
Positioned in Melbourne's prestigious private school belt, this boutique block enjoys an enviable location within walking distance of Kew Junction's shops, restaurants, and specialty grocers. Surrounded by lush parklands and walking trails, it also offers seamless access to High Street trams and the Eastern Freeway, ensuring effortless connectivity to the CBD.
Offering immediate returns and outstanding future potential, this is a rare and exciting opportunity in a highly sought-after location.
