43 Crevelli StreetReservoir VIC 3073
Property Details for 43 Crevelli St, Reservoir
Last Listing description (August 2024)
Overview:
Discover a lucrative investment opportunity with this prime commercial property located at 43 Crevelli Street, Reservoir. Strategically positioned in a highly populated pocket of Reservoir, this property offers exceptional potential for business growth, development, or leasing.
Key Features:
- Commercial Zone 1
2. Versatile Space: The property boasts a versatile layout suitable for a range of business types, from retail shops to professional offices.
3. Facilities: The property features business essential amenities. Plus, great on-street parking makes for very easy access to and from the premises for both employees and customers.
4. Investment Potential: With Reservoir's ongoing development and increasing property values, this commercial space presents an excellent investment opportunity with promising ROI potential. Current rental return sits at $24,000 per annum!
5. Local Amenities: Enjoy proximity to a variety of local amenities including cafes, restaurants, shops, and public transport options, enhancing convenience for both customers and employees.
Opportunity Awaits:
Whether you are an investor seeking a strong opportunity, a business owner looking for a strategic location, or a developer aiming to capitalise on Reservoir's growth, 43 Crevelli Street offers an enticing opportunity.
Do not miss out on this rare chance to secure a commercial property in an ever growing Melbourne suburb. Contact us today to arrange a viewing and explore the potential of 43 Crevelli Street, Reservoir.
Property History for 43 Crevelli St, Reservoir, VIC 3073
- 18 Aug 2024Sold
- 16 Aug 2024Listed for Sale $500,000
- 05 Apr 2024Listed for Sale $500,000
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About Reservoir 3073
The size of Reservoir is approximately 18.9 square kilometres. It has 45 parks covering nearly 8.8% of total area. The population of Reservoir in 2011 was 47,636 people. By 2016 the population was 50,455 showing a population growth of 5.9% in the area during that time. The predominant age group in Reservoir is 30-39 years. Households in Reservoir are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Reservoir work in a professional occupation. In 2011, 62.5% of the homes in Reservoir were owner-occupied compared with 59.3% in 2016.
Reservoir has 28,268 properties. Over the last 5 years, Houses in Reservoir have seen a 23.70% increase in median value, while Units have seen a 21.16% increase. As at 31 July 2024:
- The median value for Houses in Reservoir is $922,735 while the median value for Units is $602,707.
- Houses have a median rent of $510 while Units have a median rent of $480.
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