743 Centre RoadBentleigh East VIC 3165
Property Details for 743 Centre Rd, Bentleigh East
Last Listing description (September 2023)
POINT OF INTEREST:
Double a traditional assets offer that will see acute investors benefitting in the same way. 743 is a commercial and residential blend where business at the front consists of a 55 sqm* retail shop front, while leisure out the back looks like a renovated two-bedroom home. No leasing campaign is necessary for either, as the current agreement for the retail space brings in $21,000 per annum net, while the home has just been leased for $19,296 per annum. Beyond the obvious investor advantages, theres also plenty of development potential here a purely ground-floor structure accommodates a lucrative multi-level extension in the future. And it makes sense when you look at the neighborhood. Centre Road has more than 14,000 passing cars visiting the vibrant retail precinct daily thanks to the multicultural independent eateries, big-name retailers, and village-style amenities. Public transport has also been considered here with buses aplenty and Bentleigh railway station down the road.
Front of house retail:
- Currently leased for $21,000 per annum net.
- Prior to the market review, the agreement includes 2 + 2 yearlease that commence 1/9/2022.
- 55 sqm* total building area.
- 1 car space included.
Two-bedroom rear residential:
- 1 car space included.
- Just leased with a tenancy income of $19,296per annum.
- Two bedrooms with freestanding robes.
- Renovated bathroom and kitchen with dishwasher and gas stovetop.
- Separate laundry and split system heating and cooling
- Commercial 1 zoning.
- More than 14,000* cars pass Centre Road daily.
- 1.8 km* to Bentleigh railway station.
- 16 km* to Melbourne CBD.
- Can be returned to a purely commercial tenancy in future by combining the rear and front retail.
POINT OF VIEW:
For marathon runners; sit on your passive investment with a combined annual income of roughly $40,000. For sprinters; develop something even bigger to earn more. For both; the race is on.
*Approx.
Pricing excludes GST
Property History for 743 Centre Rd, Bentleigh East, VIC 3165
- 18 Sep 2024Sold for $920,000
- 16 May 2023Listed for Sale Contact Agent
- 21 Mar 2023Listed for Rent $370 / week
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0About Bentleigh East 3165
The size of Bentleigh East is approximately 9 square kilometres. It has 16 parks covering nearly 9.6% of total area. The population of Bentleigh East in 2011 was 25,924 people. By 2016 the population was 27,656 showing a population growth of 6.7% in the area during that time. The predominant age group in Bentleigh East is 40-49 years. Households in Bentleigh East are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Bentleigh East work in a professional occupation. In 2011, 76.5% of the homes in Bentleigh East were owner-occupied compared with 75% in 2016.
Bentleigh East has 14,050 properties. Over the last 5 years, Houses in Bentleigh East have seen a 16.90% increase in median value, while Units have seen a 24.71% increase. As at 31 October 2024:
- The median value for Houses in Bentleigh East is $1,464,544 while the median value for Units is $975,552.
- Houses have a median rent of $745 while Units have a median rent of $790.
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