FOR SALE
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25 Worrell Street
Nunawading VIC 3131

Bedrooms: -
Bathrooms: -
Car spaces: 2
Land area: 190m2
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Dual Income Opportunity!

This incredible opportunity located in a thriving neighborhood offers smart buyers exceptional flexibility, comprising a downstairs shopfront and a spacious residential apartment upstairs, both with secure tenants in place to immediately enjoy dual income!
Sitting on approximately 190sqm of land in Commercial 1 Zone, enjoying rear lane access, ample street parking, exceptional proximity to Eastlink, major arterial roads, parklands, and public transport, the property boasts affordability and versatility, suiting an array of buyers including astute investors, first home buyers, and owner occupiers wishing to move in and take advantage of the retail income to assist with repayments.
Shopfront
The retail space has had a secure tenant in place since July 2022, on a three-year lease with further terms of 3 years option and an annual 3% rental review, returning a strong $22,800 (approx.) per annum. It sits perfectly in a local shopping strip and features a light and bright shopfront of approximately 110sqm, ample customer car parking, kitchenette, bathroom facilities and rear lane access to a car park.
Residence
The upstairs residence is a spacious apartment comprising renovated kitchen and bathroom, open plan living with a balcony for outside entertaining, three bedrooms, heating and cooling, together with laundry facilities. Currently leased at approximately $3,184 per calendar month, continue to reap rental income or move in once the lease expires and continue collecting rent from downstairs!
A captivating opportunity to secure a slice of both residential and commercial space, this is an opportunity not to be missed!

Property Details for 25 Worrell St, Nunawading

Building Type
Commercial
Land Size
190m2

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About Nunawading 3131

The size of Nunawading is approximately 5.1 square kilometres. It has 23 parks covering nearly 4.1% of total area. The population of Nunawading in 2011 was 10,945 people. By 2016 the population was 11,863 showing a population growth of 8.4% in the area during that time. The predominant age group in Nunawading is 30-39 years. Households in Nunawading are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Nunawading work in a professional occupation. In 2011, 70.1% of the homes in Nunawading were owner-occupied compared with 68.1% in 2016.

Nunawading has 6,906 properties. Over the last 5 years, Houses in Nunawading have seen a 21.26% increase in median value, while Units have seen a 11.59% increase. As at 31 August 2024:

  • The median value for Houses in Nunawading is $1,142,272 while the median value for Units is $685,234.
  • Houses have a median rent of $600 while Units have a median rent of $500.
There are currently 10 properties listed for sale, and 8 properties listed for rent in Nunawading on OnTheHouse. According to CoreLogic's data, 274 properties were sold in the past 12 months in Nunawading.

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Tony Kwan
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Dominic Tiong
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