FOR SALE
$1,650,000 to $1,730,000

2299 & 2299a Point Nepean Road
Rye VIC 3941

Bedrooms: 3
Bathrooms: 2
Car spaces: 2
Land area: 204m2
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Exceptional Dual Investment Opportunity: Prime Commercial Property & Spacious 3-Bedroom Apartment

Unlock the potential of a rare offering-two distinct properties, each on its own title, yet perfectly positioned to create a powerful investment package. Featuring a high-demand commercial space and a stylish 3-bedroom apartment, this unique opportunity promises both strong returns and long-term growth.
The ground floor is home to the well-established Oriental Cuisine and Noodles, generating an impressive rental income of approximately $54,000 annually, plus outgoings. Prime beachfront commercial properties like this rarely hit the market, making this a must-see for savvy investors looking to secure a high-profile location.
Upstairs, a private entry from Point Nepean Road and rear laneway access leads to the spacious 3-bedroom apartment. Designed for modern living, the open-plan kitchen, dining, and living area seamlessly flows onto a north-facing terrace with stunning views of the Rye Foreshore.
The master bedroom is complete with built-in robes and a private ensuite, while two additional bedrooms share a central bathroom. Enjoy year-round comfort with split system heating and cooling, plus a cozy fireplace. The apartment also features a separate laundry, two undercover parking spaces at the rear, and all the conveniences of a prestigious Blue-chip coastal address.
With dual income streams and positioned on 204 sqm of prime land, this is an unparalleled investment opportunity with promising financial returns. A perfect combination of commercial strength and residential appeal, this property is a true symbol of coastal elegance and investment potential.
Property Overview:
Commercial Premises (Ground Floor):
Oriental Cuisine and Noodles operating on a secure lease
Monthly rent: $4,444 inc. GST
Lease term: 5x5x5x5, currently in the second term
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Property Details for 2299 & 2299a Point Nepean Rd, Rye

2299 & 2299a Point Nepean Rd, Rye is a 3 bedroom, 2 bathroom House with 2 parking spaces. The property has a land size of 204m2. The place is currently for sale with Hodges Rye.

Building Type
House
Land Size
204m2

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About Rye 3941

The size of Rye is approximately 17.7 square kilometres. It has 16 parks covering nearly 14.3% of total area. The population of Rye in 2011 was 8,159 people. By 2016 the population was 8,423 showing a population growth of 3.2% in the area during that time. The predominant age group in Rye is 60-69 years. Households in Rye are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Rye work in a trades occupation. In 2011, 72.7% of the homes in Rye were owner-occupied compared with 71.6% in 2016.

Rye has 10,000 properties. Over the last 5 years, Houses in Rye have seen a 45.73% increase in median value, while Units have seen a 32.23% increase. As at 31 October 2024:

  • The median value for Houses in Rye is $1,030,203 while the median value for Units is $649,156.
  • Houses have a median rent of $590 while Units have a median rent of $480.
There are currently 94 properties listed for sale, and 10 properties listed for rent in Rye on OnTheHouse. According to CoreLogic's data, 321 properties were sold in the past 12 months in Rye.

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