FOR SALE
$990,000

43 Albert Avenue
Boronia VIC 3155

Bedrooms: 3
Bathrooms: 1
Car spaces: 2
Land area: 784m2
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CORNER BLOCK DEVELOPMENT WITH PERMIT APPROVED

INSPECTIONS BY APPOINTMENT ONLY. PERMIT INFORMATION AND PLANS AVAILABLE UPON REQUEST.
This exceptional property is perfect for developers looking for a lucrative investment opportunity. Situated on a prime corner block, this site has permits approved for the development of four, three-bedroom, two-bathroom townhouses, and one two-bedroom, two-bathroom townhouse, each with its own street frontage. This is a rare find that offers immense potential for those ready to capitalise on its unique features.
The existing house on the property is a charming three-bedroom home, currently rented to a reliable tenant who pays $1955 per month. The current rental income provides an excellent holding return while you prepare for development, ensuring a steady cash flow from day one. Each of the planned townhouses has been thoughtfully designed to maximize space and functionality, making them highly attractive to future buyers or tenants.
In addition to its development potential, this property boasts a prime location that adds significant value. It's just a short walk to a K-12 college, making it ideal for families. The Boronia Mall and a variety of shops are only 1km away, providing convenient access to everyday necessities. Excellent bus and train services in the area ensure easy commuting and connectivity.
This is an outstanding opportunity for developers to create a modern townhouse complex in a highly sought-after area. With all the permits in place and a great existing tenant, you can hit the ground running.
Don't miss out on this unique chance to invest in a property with substantial development potential in a prime location. Contact us today to arrange a viewing and take the first step towards your next successful project.
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Property Details for 43 Albert Ave, Boronia

43 Albert Ave, Boronia is a 3 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 784m2. The place is currently for sale with @realty.

Building Type
House
Land Size
784m2

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About Boronia 3155

The size of Boronia is approximately 11.3 square kilometres. It has 36 parks covering nearly 7.8% of total area. The population of Boronia in 2011 was 20,825 people. By 2016 the population was 22,190 showing a population growth of 6.6% in the area during that time. The predominant age group in Boronia is 30-39 years. Households in Boronia are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Boronia work in a professional occupation. In 2011, 73.1% of the homes in Boronia were owner-occupied compared with 70.8% in 2016.

Boronia has 12,899 properties. Over the last 5 years, Houses in Boronia have seen a 19.93% increase in median value, while Units have seen a 17.25% increase. As at 30 September 2024:

  • The median value for Houses in Boronia is $817,087 while the median value for Units is $633,742.
  • Houses have a median rent of $550 while Units have a median rent of $505.
There are currently 53 properties listed for sale, and 25 properties listed for rent in Boronia on OnTheHouse. According to CoreLogic's data, 508 properties were sold in the past 12 months in Boronia.

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