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334 Springvale Road
Forest Hill VIC 3131

Bedrooms: -
Bathrooms: -
Car spaces: 3
Floor area: 241m2
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Grow your portfolio with multi-income potential

Combining a maximum exposure restaurant shopfront with an extremely private abode behind, savvy business owners or investors can enjoy the many prosperous benefits of owning both a commercial and residential property.
On 241 sqm approx. with 206 sqm approx. of floorspace, it boasts a highly visible position close to the corner of Canterbury Road, merely moments from Forest Hill Chase and multiple bus routes while also being surrounded by a thriving residential precinct.
A commercial-grade kitchen and cold room accompanies the restaurant's dining space, with a door ideally placed for separation between the front and rear. Behind is a hidden two bedroom gem. From the laneway, park in the garage or double carport and then head upstairs to the living and dining room, accompanied by a bright kitchen.
A great opportunity to secure two rental streams, work and reside in the same building, or rent out while occupying the other.
- Unique property with potential for two income streams
- A restaurant shopfront with commercial-grade kitchen
- A rear two bedroom home with a comfortable living/dining zone
- A garage and double carport
- Walk to Forest Hill Chase
- Close to buses bound for the train station
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Property Details for 334 Springvale Rd, Forest Hill

Building Type
Commercial
Floor Size
241m2

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About Forest Hill 3131

The size of Forest Hill is approximately 4.1 square kilometres. It has 12 parks covering nearly 8.5% of total area. The population of Forest Hill in 2011 was 10,051 people. By 2016 the population was 10,628 showing a population growth of 5.7% in the area during that time. The predominant age group in Forest Hill is 40-49 years. Households in Forest Hill are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Forest Hill work in a professional occupation. In 2011, 72.5% of the homes in Forest Hill were owner-occupied compared with 70.1% in 2016.

Forest Hill has 5,433 properties. Over the last 5 years, Houses in Forest Hill have seen a 16.94% increase in median value, while Units have seen a 13.10% increase. As at 31 October 2024:

  • The median value for Houses in Forest Hill is $1,135,699 while the median value for Units is $746,766.
  • Houses have a median rent of $595 while Units have a median rent of $573.
There are currently 18 properties listed for sale, and 8 properties listed for rent in Forest hill on OnTheHouse. According to CoreLogic's data, 189 properties were sold in the past 12 months in Forest hill.

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Joo Ming Lim
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Michael Gao
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