FOR SALE
$645,000

23 Myer Street
Lakes Entrance VIC 3909

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 120m2
Land area: 252m2
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INVESTMENT OPPORTUNITY WITH SECURE TENANT!

About the property:
This is your opportunity to purchase this Freehold tenanted investment in the perfect location, situated in the heart of Lakes Entrance with high foot traffic.
Public car park available at the front of the shop.
Rear access and ample parking available.
Rental income of $27,348 per annum.
Potential to build a quality three bedroom property on top of the existing building. (Permit to build is already approve)
This unit design:
* Open Plan Living, Kitchen and Dinning
* Three bedrooms, each with its own ensuite and built in robes
* Each room has its own balcony
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Property Details for 23 Myer St, Lakes Entrance

Building Type
Commercial
Floor Size
120m2
Land Size
252m2

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About Lakes Entrance 3909

The size of Lakes Entrance is approximately 28.1 square kilometres. It has 19 parks covering nearly 17.7% of total area. The population of Lakes Entrance in 2011 was 4,569 people. By 2016 the population was 4,801 showing a population growth of 5.1% in the area during that time. The predominant age group in Lakes Entrance is 60-69 years. Households in Lakes Entrance are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Lakes Entrance work in a labourer occupation. In 2011, 65% of the homes in Lakes Entrance were owner-occupied compared with 65.8% in 2016.

Lakes Entrance has 4,104 properties. Over the last 5 years, Houses in Lakes Entrance have seen a 73.13% increase in median value, while Units have seen a 64.20% increase. As at 31 October 2024:

  • The median value for Houses in Lakes Entrance is $542,190 while the median value for Units is $363,006.
  • Houses have a median rent of $450 while Units have a median rent of $370.
There are currently 108 properties listed for sale, and 5 properties listed for rent in Lakes entrance on OnTheHouse. According to CoreLogic's data, 119 properties were sold in the past 12 months in Lakes entrance.

Suburb Insights for Lakes Entrance 3909

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Daniel Schoeman
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REMAX Genesis
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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.